Lebron Little's Blog

Some are under the impression that in order to take advantage of the $8,000 tax credit offered by the IRS you can not have ever owned a home.  The IRS views first-time home buyers in this scenerio as anyon who has not owned a home or had a financial interest in a home in the last three (3) years.  This means that if you sold your home in 2005 and have not owned a home since, you would qualify as a first-time home buyer.  Of course there are other qualification for the $8,000 tax credit.  Please check with your accountant or CPA for details.