Two residences and taxes.
My son and dil bought a house in NC (2009) with the 8000 first time homebuyers credit. He is looking at a job in PA which requires relocation. The house is in both their names. If he meets the mandate of the job and relocates to PA, but the dil stays in NC with the house, can they avoid paying the 8000 back? (She doesn't want to move right now anyways).
Comment on ebaines's post
And I quote: For the 2009 and 2010 tax credits, you do not have to repay the credit as long as you own and live in the home as your principal residence for at least three years.