I put a 10% deposit down on a pre construction condo scheduled for completion in 2025. Can I claim the first time home buyer tax credit this year or do I have to wait?

[Heidi123]

Technically, to be eligible to apply for the first-time home buyers amount, you would need to be living in the home within a year of purchase. But I would recommend calling the Canada Revenue Agency (CRA) at 1-800-959-8281, and see if they will let you take the credit, since your home won’t be ready until 2025.

Thank you for choosing TurboTax.