The Federal Tax Credits Blog

Question: Do i have to repay my 2009 first time homebuyers tax credit If I go to school in a different state?

I am planning to go to school in a different state and return after my college is finished, would it still be considered my principal residence for tax purposes or will I have to pay back the tax credit?

Answer: If the home is still your legal residence, no one else lives there, and you return there for vacations and summers, you are fine. If you change your residence and stop using the home personally as your permanent home, you must repay it.

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