Am i eligible for first time home buyer credit? closed on my first home this year. lived in it for 3 months before deciding to rent it out.

To be eligible for this credit, you must not have another home owned by you or your spouse or common-law partner in the calendar year of the home purchase or in any of the four preceding calendar years. Also, you will claim this credit the tax year that you have purchased your home- The home is considered to be acquired in the taxation year in which the home is.

Here is a great TurboTax Article The Home Buyers’ Amount

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