I bought a principal residence in 2001 and relocated in December 2005 because of a job change. Instead of selling, I rented it out. I continue to own this residence. If I buy a new home, can I qualify as a first-time homebuyer?

I bought a principal residence in 2001 and relocated in December 2005 because of a job change. Instead of selling, I rented it out. I continue to own this residence. If I buy a new home, can I qualify as a first-time homebuyer?

Yes. To be a first-time homebuyer means you haven't owned and used property as a principal residence within the last 3 years. Since you haven't used a principal residence in nearly 4 years, you do qualify as a first-time homebuyer. Owning rental property or a vacation home does not bar you from claiming the credit.