Posted on: 20th Aug, 2009 04:16 pm
I have a question or two about the tax credit that I hope can be answered. We just closed on our house today. The purchase price was 65000 and we put 3.5% down.
When we claim the tax credit we bought it for 65000 so that makes the tax credit 6500.
I purchased the house with my boyfriend. Do we both have to do an amended 1040X and form 5405 and split the 6500? Is it possible for him to just file and get the full 6500?
Is there a waiting period before we should do the amendment to make sure everything is documented?
When we claim the tax credit we bought it for 65000 so that makes the tax credit 6500.
I purchased the house with my boyfriend. Do we both have to do an amended 1040X and form 5405 and split the 6500? Is it possible for him to just file and get the full 6500?
Is there a waiting period before we should do the amendment to make sure everything is documented?
I think your boy frind alone can claimthe credit.
But it is a good idea to check with a tax consultant. You need t validate who will have better advantge in gettign this credit, so your sat with in alow tax bracket
But it is a good idea to check with a tax consultant. You need t validate who will have better advantge in gettign this credit, so your sat with in alow tax bracket