Can you get first time home buyers credit if your home was a refinance from an inheritance?

[JEM0179]

Kindly click on the TurboTax FAQ, this will assist you with your question above.

Additional Information:

CRA Information on buying, building, or renovating a house.

If you require further assistance please contact our phone support team, or contact us directly on Facebook or Twitter.

Thank you for choosing TurboTax.

[SandraWWoodbridge]

Since you are not buying a house, but refinancing, you cannot claim The Home Buyers’ Amount (HBA).

As per CRA:

You can claim $5,000 for the purchase of a qualifying home in the year if both of the following apply:

• you or your spouse or common-law partner acquired a qualifying home
• you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer)

Please visit the following FAQ:

TurboTax:

New Home Builders’ Tax Credits and Rebates to Know About

Where do I claim the home buyers' amount?

CRA:

Line 31270 – Home buyers' amount

Line 31270 – Qualifying home

If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.