Home Buyer FAQ: I Have a Mortgage Credit Certificate. What Happens if I Sell My Home or Move?
Home Buyer FAQ: I Have a Mortgage Credit Certificate. What Happens if I Sell My Home or Move?
You may be subject to Recapture tax if you decide to sell your home within 9 years. See details about Recapture Tax here. If you move, but decide to keep your home and rent it out, you simply will not be able to take the credit any longer. You must live in the home as your primary residence to continue to take the credit.