If I owned a mobile home in a trailer park where I paid rental space do I qualify as a first time homebuyer?
Manufactured Homes August 30th, 2009I owned a mobile home and rented the space where it sat do I still qualify for first time home buyer credit?
I just sold the mobile home so I guess my question is, is a mobile home on rented space considered owning a home? There is not deed just a title through the DMV. I would think this would not consider me as owning a residence within the last 3 years.
August 30th, 2009 at 10:54 pm
Yes, it is ownership, they are even specified in the tax code.
August 30th, 2009 at 10:54 pm
Yes you do.
August 30th, 2009 at 10:54 pm
You are correct to assume your mobile home was personal property. You are eligible…go for it!
August 30th, 2009 at 10:54 pm
The IRS considers a "residence" as:
House, co-op, condo, house trailer, mobile home, house boat…
so you would not qualify for the credit.
August 30th, 2009 at 10:54 pm
Sorry, but you do not qualify as a first time homebuyer. The tax credit specifically indicates that mobile homes ARE qualified for the credit (whether the land under it is owned or not). That definition applies in both directions. If such is a qualifying house for the credit, it is also a DISqualifying house.