Buyer cannot claim first-time homebuyer tax credit on property vested in his LLC entity

Facts: A buyer purchased property to use as his principal residence, taking title in the name of a limited liabilityA financial debt or obligation owed to others. companyAn organization formed for the purpose of group investment. The members of an LLC are not liable for the LLC's debts and obligations. (LLC) solely owned by the buyer. The buyer claimed a first-time homebuyerA buyer of property who has not previously owned real estate, typically aged 25-34. credit on his individual tax return. The Internal Revenue Service (IRS) disallowed the buyer’s first-time homebuyerA buyer of property who has not previously owned real estate, typically aged 25-34. credit, issuing a notice of deficiency and demand for additional tax payment.