Is a Co-Op shareholder a homeowner?
Started by sniper
over 17 years ago
Posts: 1069
Member since: Dec 2008
Discussion about
When it comes to the $8000 tax credit for first time homebuyers where does a co-op owner fit in? What criteria are being used to determine home owner? If I sell my co-op and decide to buy a home do I qualify as a 1st time home buyer? Wasn't I really just a shareholder in a corporation?
That would be nice, wouldn't it? But, unfortunately, no. Your co-op is considered a 'home' (for example, as a co-op owner you've probably received the STAR exemption, right?).
i suppose i did.
If you could afford a co-op you probably are over the $75,000 income limit...
No one in NY is cashing that $8000 tax credit because of the income restraints....since banks are requiring those income levels to receive mortgages...
Just another example of the new Washington doing whatever it can to fuck New Yorkers.
i didn't know the income limit. honestly, i don't know any of the details. someone asked me if i qualified because of the "shares" thing so i figured i would find out. thanks for the help.