Blainestang
Well-known member
The wording of the tax credit is that you can't take the credit if you have the "intent to resell" or something like that.If you buy and sell it right away as the original owner would you still qualify for the $7500 when tax season rolls around?
So, can you buy it planning to keep it, then change your mind and resell it because someone offered you $20k over what you paid? Yes.
Can you buy it from the outset with the plan to resell it... and still take the credit? Legally, no.
Can anyone prove whether you were planning to keep it at some point or not? Probably not... unless the buyer posts on a public forum that they're planning to just buy and flip it. haha
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