The Obama’s stimulus package has altered the the First Time Buyer Credit to
be a true credit and not a loan that must be repaid. The two images here show
how the IRS defines who is and is not qualified to take the credit in 2008 and
are taken directly from IRS Form 5045
for 2008. IF YOU HAVE ANY QUESTION AS TO WHETHER OR NOT YOU DO OR WILL QUALIFY
ASK A TAX PROFESSIONAL. This post is not tax advice.