First-time homebuyer
The term “first-time homebuyer” means any individual if—
(I)#
such individual (and if married, such individual’s spouse) had no present ownership interest in a principal residence during the 2-year period ending on the date of acquisition of the principal residence to which this paragraph applies, and
(II)#
subsection (h) or (k) of section 1034 4 4 See References in Text note below. (as in effect on the day before the date of the enactment of this paragraph) did not suspend the running of any period of time specified in section 1034 4 (as so in effect) with respect to such individual on the day before the date the distribution is applied pursuant to subparagraph (A).