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My very first home purchase is in another state as second home. I have no primary residence but renting. For tax purpose, does my second home is considered as first hom

Forum|Forum|7 years ago
June 4, 2019
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Best answer by MargaretL

Your first home means your main home for tax purposes. It is a home where you lived the most. Your second home is any home that you choose. If you don't rent your very first home, it can be your second home and you can deduct any mortgage interest, real estate tax or mortgage insurance.

MargaretLAnswer

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Your first home means your main home for tax purposes. It is a home where you lived the most. Your second home is any home that you choose. If you don't rent your very first home, it can be your second home and you can deduct any mortgage interest, real estate tax or mortgage insurance.

K

KS3Author

Thanks for your kind response and you are correct. Still it is not clear to me here is my situation. I never lived in my second home and still not living but renting it out but that is my first home purchase in other state. I live in different state, currently staying in rental home. For the of tax purpose, could I consider my second home as a first home purchase ( indeed it is my first home purchase ) and take the advantage of first time home buyers tax credit?