Sunday, November 15th, 2009

Can my fiance use the first time homebuyer tax credit?

Homebuyer tax credit
Kdub asked:


My fiance and I are due to get married this August. I already own a condo, but my fiance has never owned a home. If we buy a home together this year can we get the first time homebuyer credit? If not, if he were to buy the house by himself, can he get the first time homebuyer tax credit and would we need to file separately next year to do that? What should we do to take advantage of this tax credit?

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5 Responses to “Can my fiance use the first time homebuyer tax credit?”

bud68 Says:
November 16th, 2009 at 9:07 am

If you buy jointly, no. If he buys alone, possibly.

MadMan Says:
November 16th, 2009 at 7:52 pm

He would need to complete the purchase before you get married. As to how you need to file, you will pick the way that minimizes your total tax (ie MFJ or MFS).

acermill Says:
November 20th, 2009 at 7:41 am

The home purchase must be completed in his name ONLY prior to your pending marriage. You will need to check with the IRS relative to filing requirements for fiscal 2009. The rules for this credit are still being developed/revised.

Alterfemego Says:
November 21st, 2009 at 9:56 pm

No if you’re married. She can if you’re not.

Blonde Engineer Girl Says:
November 23rd, 2009 at 6:21 am

Here is the answer for you, straight from the website (listed below). It is answer #2. So you should buy BEFORE you get married, otherwise he doesn’t get the credit. Good luck!

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