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    jdmaddens's Avatar
    jdmaddens Posts: 1, Reputation: 1
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    #1

    Feb 2, 2011, 08:35 PM
    First-time home buyer credit, relocation, primary/secondary residence...
    My wife and I own a house in FL through an FHA loan starting in 2009, and qualified and received the first-time home buyer credit. Both my wife and I were required to move for our jobs, and chose to rent the property. We are in VA but have not purchased and are living with parents at the moment. Is there any way to continue claiming our FL house as primary residence for tax purposes?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Feb 2, 2011, 08:42 PM

    Not legally, it is not a rental property, you have to claim the income and can deduct your costs.

    Also the property tax can no longer be with a homestead exemption and your property insurance will need to be for rental property
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