I need some info on the second home tax credit.?
I have owned my home for 5 years and I heard that if I buy a second home I will qualify for the second home tax credit of $ 6500. Is that correct? And to get this money after I purchase a second home, how do you get it? Do you have to file for it on your taxes? Do you get it on next years taxes? I wanted to rent out my first home and buy a second home to live in and the $ 6500 was an added benefit. Can anyone give me a little more info on it? Thanks so much for the help!