Research Tax Credit Irs
November 12th, 2008
Question: What is considered a first time home buyer?
We have owned a crappy little single wide for 9 years that has resided only in mobile home parks during that time. We are in the process of trying to get a mortgage for a different home on land using the First time home buyers program and we need to know right now FOR 100% that we would get the tax credit. I have researched and researched and no where can I find a definite answer to this question. Our title states it is a motor vehicle or vessel and says nothing about real estate. We pay yearly taxes for it to the DMV. The realtors have said it would work but the IRS site makes me wonder. We would be in a horrible situation if we were to find out AFTER signing a contract that we couldn’t get that credit over a technicality…Please help!
Thanks y’all
Answer: I can’t give you a 100% for sure answer but if you have been paying vehicle taxes and have nothing else to show I would think you are entitled to the tax credit. Maybe call the IRS and talk to someone there and ask your question. Explain your situation and they should be able to tell you if you qualify or not.
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