Comments on: First-Time Home Buyer Tax Credit – All the answers you need

By: Dori

Dori — Wed, 02 Feb 2011 18:51:38 +0000

Hi! I had the same problem! The timeshare my husband and I use to have a couple years ago gave us a “mortgage interest” for one out of the three years that we had it, but our preparer told us to ignore it because it wasn’t important. That didn’t work out too great! I would like to know if any of you have been able to get your money yet! I have been fighting with the IRS for over 8 months and even had my ’07 and ’08 audited, notice that they ignore my ’09! And we are still being denied. I don’t know what to do now. Any ideas would help!
Thanks

By: Jerome

Jerome — Fri, 21 Jan 2011 16:24:12 +0000

Just got my letter back from the IRS and I to bought a timeshare and was denied. What is the best way of handling this? I’m thinking appeals court?

By: Lissette

Lissette — Sun, 21 Nov 2010 01:29:33 +0000

Hello!!! Me and my husband just got denied because we own a timeshare… I don’t know what to do! Can anyone advise??? Thanks!!!

By: CLint Barter

CLint Barter — Sun, 05 Sep 2010 19:36:58 +0000

I am having the same problem it is a joke I finally buy my first home me and my newly married wife of 2 years. It is both our first purchase of any home. But on our honey moon we got pitched into a point system timeshare not even a full week a year and it is stopping us from getting our counted on needed refund. Whats is up with the GOV. 3 months to tell me I need a different form get that to them, 3 months latter its this. I call up to talk and they hang up on me!

By: John

John — Wed, 07 Jul 2010 05:28:18 +0000

I was denied the claim and when I called in it was because we owned a time share. The rep on the phone said we can appeal it and should have no problem. Has anyone heard anything about this ?

By: Jim Renshaw

Jim Renshaw — Wed, 30 Jun 2010 13:16:32 +0000

Ryan,
Thanks for the good information. This is something that all real estate professionals should be informed about. Thanks.

By: Ryan

Ryan — Wed, 30 Jun 2010 12:16:49 +0000

Just be aware that most buyers are being denied on First Home Buyer by the IRS. The IRS states that if you claimed mortgage interest during the 3 tax years, you do not qualify. In other words, even though there was a three year span between closing dates, that you did not technically own property, if you owned property in that three tax years, you will be denied.

By: Gavin

Gavin — Tue, 12 Jan 2010 18:36:33 +0000

Jim, thank you as always for the great information.