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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 1
 
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IRonMaN
Level 15

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.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309

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IRonMaN
Level 15

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.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309

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mojocpa
Level 7

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

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