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    Must a first time homebuyer credit taken in 2008 be totally repaid even thiugh the house was condemned and destroyed in 2011?

    joe7230
    Level 2
    ‎12-06-2019 10:40 PM
     
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    IRonMaN
    Level 15
    ‎12-06-2019 10:40 PM

    If it was sold at a loss there is no requirement to pay the credit back.  Sounds like if it was condemned, they probably didn't sell it for a gain.


    Slava Ukraini!

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    2 Comments 2
    IRonMaN
    Level 15
    ‎12-06-2019 10:40 PM

    If it was sold at a loss there is no requirement to pay the credit back.  Sounds like if it was condemned, they probably didn't sell it for a gain.


    Slava Ukraini!
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    mojocpa
    Level 7
    ‎12-06-2019 10:40 PM

    You might want to look into amending the open year returns for the annual repayment.

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