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We sold in February. Are we eligible for the free $6,500 tax credit when Obama signs on Friday?
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Darinq
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Darinq

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Kudos!
11-05-2009 01:09 PM
 

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Re: We sold in February. Are we eligible for the free $6,500 tax credit when Obama signs on Friday?   [ Edited ]
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Angry_Minnow
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The credit is for buying, not selling...  Nonetheless-

 

 

    (j) Effective Dates-
  •  
      (1) IN GENERAL- The amendments made by subsections (b), (c), (d), and (g) shall apply to residences purchased after the date of the enactment of this Act.

 

 

(c) is the $6,500.  Our government is stupid, but thankfully not so stupid as to give you money to encourage behavior that already happened.  Sorry.

 

Message Edited by Angry_Minnow on 11-05-2009 01:59 PM
Kudos!
11-05-2009 01:54 PM
 

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Re: We sold in February. Are we eligible for the free $6,500 tax credit when Obama signs on Friday?
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Nanomug
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Nanomug

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and the previous home had to be owned for more than 5 years.
Kudos!
11-05-2009 11:43 PM
 

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Re: We sold in February. Are we eligible for the free $6,500 tax credit when Obama signs on Friday?
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someotherguy
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someotherguy

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I'm wondering about this too.  We bought in 12/03 and sold 9/08, so we didn't live there quite 5 years.  So it sounds like I don't count as a first time buyer (have owned within the last 3 years) or a current homeowner since we didn't live there 5 years.  Hopefully I'm missing some info, doesn't seem like it would make sense that we would not be eligible for something.
Kudos!
11-06-2009 09:55 AM
 

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Re: We sold in February. Are we eligible for the free $6,500 tax credit when Obama signs on Friday?
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D_K
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Registered: 11-17-2008

D_K

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I'm in the same situation, bought in 11/04 and sold in 5/09 (owned 4 1/2 years). Also, owned a house for 7 years before that one. So, the requirement of 5 years at one home in the last 8 years doesn't apply (barely). Not sure how they come up with these requirements, they make no sense to me. The fact that I sold a home in the middle of this random 8yr period means I don't qualify. I'm currently renting so I would think that I'm a perfect candidate to "attract" to the housing market. (Not that $6500 is much in the scheme of a $400k home.)
Kudos!
11-07-2009 10:55 AM
 

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