First Time Home Buyer Tax Credit For Couples Where Only One Person Is A First Time Home Buyer?
I purchased our current home before me and my wife got married. I am the only owner of the home. If we were to move and both buy a new home, would we receive the tax credit because my wife is a first time home buyer?
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Tags: Buyer, Couples, Credit, First, Home, Only, Person, Time
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August 15th, 2009 at 2:54 am
No…according to a synopsis of the legislation, both parties must be first-time home buyers to take advantage of the tax credit. See here for more infohttp://www.federalhousingtaxcredit.com/f…
August 15th, 2009 at 3:33 am
Both the taxpayer and the spouse must qualify as first time home buyers. If for example the spouse really only owned a vacation home not a full time personal residence they will still qualify.