Posted on: 23rd Feb, 2010 07:23 pm
My wife buying a new home.Can she qualify for first time home buyer for $8000 since she married to me which I already own a house.Her name is not listed nor included in my home name mortgage loan.We file our income tax return jointly. second question.Can she qualify for repeater home buyer for $6500.I own the house for 8 successive years.Thanks for your help :wink:
If your wife has not owned a property in her name for the last 3 years, then she can purchase a new home and claim the tax credit of $8000. However, as her name is not on the deed of your property, then she won't be able to claim the repeat tax credit of $6500. You will able to claim that tax credit, though.
If you wife hasn't owned a home in 3 years and is not on the Title of your current home; she is eligible for the $8000 Tax Credit.
The criteria for the $8,000 tax credit is: If you are married, neither you nor your spouse may have owned a main home in the last three years.
You are married. Your husband owns a main house. She is NOT eligible for the $8,000 tax credit.
You and she may qualify for the $6,500 if you sell the present home.
You are married. Your husband owns a main house. She is NOT eligible for the $8,000 tax credit.
You and she may qualify for the $6,500 if you sell the present home.
I apologize. John is correct.
Ted, you need to apologize twice. You posted twice above.
Only kidding.
Between tax credits and all the different lender's guidelines on how to put what and where to put it on the new GFE, my head is spinning.,
Only kidding.
Between tax credits and all the different lender's guidelines on how to put what and where to put it on the new GFE, my head is spinning.,
Thanks for all your quick response.My wife does not owned any property in her name and does not included her name in deed of property/title.
John, you said I may qualify for $6500 if I sell the present home. I will not sell my present home leave it for rent. Can I still qualify for repeater home buyers $6500.
John, you said I may qualify for $6500 if I sell the present home. I will not sell my present home leave it for rent. Can I still qualify for repeater home buyers $6500.
Hi everyone,
I am currently working on a website that I think would be beneficial to this group.
An eBook which reveals on how to use the TAX CREDIT
* Learn how to utilize the tax credit EVEN IF YOU DO NOT QUALIFY FOR A
MORTGAGE!
* Learn how to file for the tax credit and get the rebate.
* Learn how to structure the terms of the purchase.
* Who qualifies and for how much.
* Includes tips for buying or selling a home.
"http://www.taxcreditebook.com/"
Good luck
Bong Simpao
[Link deactivated as per forum rules. Thanks.]
I am currently working on a website that I think would be beneficial to this group.
An eBook which reveals on how to use the TAX CREDIT
* Learn how to utilize the tax credit EVEN IF YOU DO NOT QUALIFY FOR A
MORTGAGE!
* Learn how to file for the tax credit and get the rebate.
* Learn how to structure the terms of the purchase.
* Who qualifies and for how much.
* Includes tips for buying or selling a home.
"http://www.taxcreditebook.com/"
Good luck
Bong Simpao
[Link deactivated as per forum rules. Thanks.]
thanks for all your reponse