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If I filed a a quit claims deed and no longer use the property as my residence,

Do I still have to pay 2018 first time home buyers credit repayment or does the person who owns the house
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1 Reply
rjs
Level 15
Level 15

If I filed a a quit claims deed and no longer use the property as my residence,

The person who received the first-time homebuyer credit was you, not the new owner. You are responsible for repaying the credit. If you transferred the title and stopped using the house as your principal residence, you must repay the remaining amount of the credit on your tax return the year that you did that.


Why did you mention 2018? Did you mean 2008, which would have been the year that you purchased the house and received the credit?

 

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