joe m. asked:
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?
Ruth
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?
Ruth
Tamara
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 info
Comment by Steve D — July 9, 2009 @ 8:26 pm
Michelle
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.
Comment by Mathew — July 10, 2009 @ 9:55 am