All Forum Posts by: Guevara M.
Guevara M. has started 70 posts and replied 198 times.
Post: Principal Residence
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
Originally posted by Josh Green:
glad to see that my original info was wrong and that you do qualify.
interesting to see that you can be on title before for a home and still qualify. god bless america!
now go stimulate the economy with that extra $8k!
Yes, I did but never got a clear answer. Also at the time a lot of CPA's didn't have a clear answer as well so I started doing some research & found out that I do qualify.
Post: Principal Residence
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
I just got off the phone with my CPA & she said that I do qualify for the $8000 tax credit.
Now what to do with it!
Post: Principal Residence
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
That is what I was thinking. It was always used as a rental. I've asked a few different CPA's & they all were not 100% sure if I could or not. I'm going to make some more calls today to try & find out.
Thanks!!!
Post: Principal Residence
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
Anyone have any idea?
Post: Principal Residence
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
I'm sure this has been talked about many of times already. It's about the first time home buyers $8000 tax credit.
I just closed on my house last month & really want that $8000 but I bought a small condo back in 2003 & I'm still paying on it. I have never lived in it. I use it as rental property only.
This was taken from the U.S. Master Tax Guide.
"Eligibility. A first-time homebuyer is an individual (and, if married, their spouse) who had no present ownership interest in a principal residence in the prior three-year period ending on the date of the home purchase."
I found this with a quick google search.
principle residence is the same thing as primary residence per: http://www.businessdictionary.com/de...residence.html
So since my primary residence has been a small apartment & not the condo will I qualify for the $8000???
Post: $8,000 for 1st time homebuyers
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
Originally posted by Josh Green:
in your case, you are still on title on a property and therefor not a first time home buyer.
That's what I was thinking. Thanks!
Post: $8,000 for 1st time homebuyers
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
I thought that I would qualify for this since I am buying my primary house this year but found out that I don't. I bought a small townhome about 5 years ago & since it's in my name they said that I won't get the $8000.00. I have never lived in it. I only lease it out. I thought that since it's not my primary home that I would still qualify, but I was wrong. Does this sound right? I have heard mixed things.
Post: New Home or Pre-Owned
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
I just don't want to buy something & regret it. I think that the smaller new custom home will be better for me since it will be built the way I want it.
Post: New Home or Pre-Owned
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
How much house should I be looking for?
Post: New Home or Pre-Owned
- Homeowner
- Corpus Christi, TX
- Posts 199
- Votes 16
Would you rather have a new home custom built that is smaller or a older home that is larger. I'm single with no kids but I want a 3/2/2 home. For instance I can get a custom home built that is about 1400sq/ft or a older home that is about 1800sq/ft for the same price. This is the builder that I am looking at. I heard nothing but very good things about him.
http://erasmocantuconstruction.com/company.asp