Should having lived in a trailer park disqualify you for first-time home buyer credit?

No because you
don't own the land

Yes because you
owned a building

Photo by The U.S. National Archives

Background:

posted 10-19-2010 by JennaGermain

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If you've bought a brick house on land that you pay property taxes for, should you be disqualified from first-time home tax credit because you previously owned a trailer home in a trailer park (where you don't own the land, just the trailer)?

Debate It! 1

The facts in the case are a Trailer Home is treated like a car in that you can't claim the interest on the mortgage on your taxes and it depreciates like a car. When you live in a trailer park, you don't own the land, just the "building" on the spot.

Posted By JennaGermain, 12-16-2010 (2 years and 6 months)