Unfortunately, as with most tax legislation, the answer is not quite so simple. However, based on the basic information you provided and assuming your income is within the guidelines required and the home you purchased is a primary residence, you should qualify. Here is the link to the IRS so that you can do further research:
http://www.irs.gov/newsroom/article/0,,id=204671,00.html
This link is an easy to read FAQ sponsored by the NAHB (Nat'l Assoc of Home Builders):
http://www.federalhousingtaxcredit.com/faq1.php#2
Best regards,
Jody Wagner
EcoBroker
Intero Real Estate Services
Office (303) 670-3232
- Sun Nov 15 2009, 11:35