Posted on: 18th Aug, 2009 12:55 pm
Me and my fiance just purchased a home June 2009. I am on the mortgage only (her credit would have made us pay points). We are both first time home buyers. Her name is on the deed. My income only qualifies for a tiny portion of the tax credit due to the income limitations, but with her income she does qualify. Is she able to get the $8000 tax credit (minus a few hundred for my income taken into account). If we were married, we would both be able to get the tax credit as we both do not exceed the $150,000 together.
Eligibilty for the first time buyer credit is determined by the date of purchase. Since you are not married at the time of purchase, she should be eligible for the entire credit.
An accountant would be the final offical word, but, as I have written is a specific scenario that is OK on the IRS website.
An accountant would be the final offical word, but, as I have written is a specific scenario that is OK on the IRS website.