Question

Can I claim the 1st time homebuyer credit for a home I purchased 2 years ago, renovated and moved in as my primary residence this year? I have been renting for 10 years.

Forum|Forum|4 years ago
March 9, 2022
1 reply
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I have been renting in another community and moved in order to retire.

As per this TurboTax article, Who Can Benefit From the Home Buyers’ Amount?, you cannot claim the 1st time Homebuyers Credit in your 2021 tax return, as you indicated you bought the house two years ago.

The Home Buyers’ Amount (HBA) is a non-refundable credit that allows first-time purchasers of homes, and purchasers with disabilities, to claim up to $5,000 in the year when they purchase a home.

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