Ask Experts Questions for FREE Help !
Ask
    rjjjdeguzman's Avatar
    rjjjdeguzman Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 14, 2009, 08:10 AM
    Does having your name on a deed count for ownership if it was transferred from my dad
    I am wondering if I qualify for the first time home buyer tax credit. It has been 3 years since I've owned my own home from start to finish. However within the past 3 years I have had my name on a house in Las Vegas which was transferred to me from my father. I am not claiming any interest on it this year for 2008, but I did for 2007. Does this count and can I claim the first time home buyer credit? This is for Las Vegas, Nevada. I quit claim the deed to the house back to my dad in August 2008 and purchased a home in Feb 2009?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Apr 14, 2009, 08:46 AM

    What matters here is whether the house in Las Vegas was your principal residence. If it was, then you are ineligible for credit on the house you purchased in February 2009. But if your primary residence was actually an apartment where you were paying rent, so that you have not owned your principal residence for the 3 years prior to February 2009, then it would qualify.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Change Name on Deed - have 1/2 ownership [ 1 Answers ]

I own 1/2 of a rental property (my name is on deed), the other 1/2 owner wants to "sign over" his half to me and make me primary owner since I pay all the taxes, maintenance, etc. How do we proceed?

Transferring deed ownership. [ 1 Answers ]

Hi. I am joint owner of a property with my mother in England. We have owned the property for over 20 years, which my mother rents out and lives on the proceeds, while living in a property owned by herself and my Dad. My mother is 81 and has recently been diagnosed with senile dementia. In trying...

Contract for deed, ownership [ 7 Answers ]

Hi: I will try to make this brief as possible. 21 years ago my mother purchased me a home; Im disabled and live on social security disability. To protect her investment in case something happened to me she placed a contract for deed on the property. The contract is between me and my mother....

Deed and the ownership of the house [ 3 Answers ]

I and my husband built a house in 2001. We both signed the first papers I thought those were the final papers. However, when house finished he signed the final papers by himself -i had at that time some health issues and did not know that I do have to sign the final papers in order to be owner of...

View more questions Search