It occurred to us that it might be a good idea to put up all the official IRS documents, FAQs, advisories, and videos in one place for buyers, real estate agents, accountants, and lenders who might like a comprehensive and simple way to find them. The IRS has put out a lot of helpful material, but the IRS site is sometimes difficult to navigate through. So we’ve put everything you need together in one place.
You’ll find links to everything you need there, and we’ll update it whenever the IRS issues any new statements on the home buyer tax credit.
How do they figure the 5 years. We bought our house after selling our homes in Kansas and then renting for a while, in Oct of 2005. It is now 2010, 5 years, and have just sold it and are going to purchase a different house… Do we qualify because I can show 5 years of Tax records and 5 years of interest on home mortages.. Not sure if I can qualify under that or if they go by the calendar and then i will not qualify. Please advise if you can…
Hi @Stan, they measure 5 years as 60 months. If you sold in October of 2005, your five years would not be up until October 2010. I’m sorry to be the bearer of bad tidings, and if you want to check with an accountant you should.