Question about Homebuyer Tax Credit Co-op related

Can you still qualify for the first-time home buyer tax credit if you previously owned a co-op? Any info would help!


ETA: This is what the bill states but I was still unclear if this is only relates to ownership of a house not a co-op?

Only first-time homebuyers are eligible. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.

Message edited 2/26/2009 9:40:44 AM.

Re: Question about Homebuyer Tax Credit Co-op related

I got this from turbotax...


Who is considered a "first-time" homebuyer?
Any taxpayer who has never owned a home as a principal residence.

However, you could qualify if you’ve owned a home before, but not as your principal residence during the three years prior to the purchase.

Married couples cannot qualify for the credit unless both spouses meet the three-year rule.

What qualifies as a principal residence?
Your principal residence is where you live for most of the year. That can be a house, a condo, co-op, house trailer or houseboat, within the United States. Vacation and rental homes are not eligible.

Re: Question about Homebuyer Tax Credit Co-op related

Thanks!.... I guess the answer is no then

Re: Question about Homebuyer Tax Credit Co-op related

Yes sorry... if you own a co-op that is your "first" purchase.