Eli Posted February 9, 2010 Report Posted February 9, 2010 WOuld the total purchase be included for both the lot & the home or just the home. I don't se that in the instructions for form 5405. Thanks! ELi Quote
Eli Posted February 9, 2010 Author Report Posted February 9, 2010 Purchased the mobile home on july 30, 2009 & the lot in October 2009. Quote
chuck Posted February 9, 2010 Report Posted February 9, 2010 I believe both would count. Would think it would be the same if he had bought the lot then built the house using those dates. Quote
Eli Posted February 9, 2010 Author Report Posted February 9, 2010 That was my first thought too, but I didnt see anything in the instructions so I wanted to double check. Thanks, Chuck! Eli Quote
mcb39 Posted February 9, 2010 Report Posted February 9, 2010 A qualifying taxpayer may elect to treat a home purchase made in 2008 or 2009 as occurring on Dec 31 for the purpose of claiming the credit on the prior years tax return. Since he couldn't occupy one without the other, I would use the October date since both dates qualify. Quote
Eli Posted February 10, 2010 Author Report Posted February 10, 2010 A qualifying taxpayer may elect to treat a home purchase made in 2008 or 2009 as occurring on Dec 31 for the purpose of claiming the credit on the prior years tax return. Since he couldn't occupy one without the other, I would use the October date since both dates qualify. Thanks, Marilyn!! It sure helps to have friends to bounce things off of now & then :-) Eli Quote
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