A couple filed their 2008 return as married filing jointly and claimed $7,500 for the First-Time Homebuyer Credit. The couple used this home as a primary residence. In 2021, they converted the home into rental property. What, if any, is the tax obligation of the taxpayers regarding the First-Time Homebuyer Credit?  

Answer rating: 100% (QA)

When a taxpayer converts a home that was previously claimed for the FirstTime Homebuyer Credit into ... View the full answer