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Updated over 3 years ago on . Most recent reply

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Michael Cioffi
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Am I eligible for Biden's $15K first time homebuyer AFTER multi?

Michael Cioffi
Posted

Im a first time home buyer looking to pull trigger on first multifamily in Connecticut/NY area(Good luck to me ahaha)

Question- IF I use accelerated depreation and lower my AGI will I qualify for Biden's first time buyer house credit if it passes? 

So the strategy would be to buy the multi first under a business and then immediately buy my personal first home. (I dont think the law has passed yet but assuming my AGI falls under the 150k for married and whatever other criteria considering local income etc. 

Thanks for feedback!

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Impossible to say as no such law currently exists....and is unlikely to exist anyways.

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