does the 2009 tax credit count toward duplexes?
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Do duplexes count toward the first-time home buyer’s tax credit? If I purchase one, I would be living there for at least five years. Thanks.
Since you will only live in one-half of the duplex, only 1/2 of the purchase price counts. If the duplex costs $100,000, your credit would be a maximum of $5000.
Yes. As you as long you’d meet all requirements, you would be able to claim the credit, 10% of purchase price, up to a max. of $8,000 (whichever is lower).
http://www.irs.gov/newsroom/article/0,,id=204671,00.html
References :
Since you will only live in one-half of the duplex, only 1/2 of the purchase price counts. If the duplex costs $100,000, your credit would be a maximum of $5000.
References :