Start For Free

Fast, Secure, and Always Accurate!

Back to List

Category: Credits

Who cannot take the First Time Homebuyer Credit?

If any of the following describe you, you cannot take the credit, even if you buy a main home:

* The price of the home is more than $800,000.

* Your modified adjusted gross income is $145,000 or more ($245,000 or more if married filing jointly)

* You cannot claim the credit for any year for which you can be claimed as a dependent on another person's tax return.

* You (and your spouse if married) are under age 18 on the date of purchase.

* You are a nonresident alien.

* Your house is located outside the United States.

* Neither you nor your spouse (if married) was on qualified official extended duty outside the United States as a member of the uniformed services or Foreign Service or an employee of the intelligence community.

* You acquired the home by gift or inheritance.

* You acquired your home from a related person.

* You acquired your home from a person related to your spouse.

* You purchased a home in 2012 or 2013.