Posted on: 23rd Feb, 2010 12:53 pm
My husband and I have never actaully owned a home. We lived in a house for 3 years that was owned by my in-laws, so they let us claim the mortgage interest and taxes on our taxes since we paid all the mortgage payments, taxes and insurance. Will we still qualify for the $8000 first time home buyers credit? Please help! Thanks!
If you did not own a property in your name for the last 3 years, then you would be considered as a first time homebuyer. Thus, you would be able to get the tax credit of $8000. However, it's quite surprising to me that you were able to claim the mortgage interest while paying taxes when your name was not on the mortgage docs.
Yes, being that you don't own the home and haven't owned a home in 3 years. You're eligible for the tax credit.
