Can I buy a home in my name with my parents co-signing and receiving the first time home buyer tax credit?
can I purchase a home in my name (with my parents as co-signers) and have my parents receive the first time home buyer tax credit (of $7,500 or $15,000)? Would we have to hold the home in an LLC? Otherwise can I amortize the tax credit until I can realize the benefits? ----Please Help!
Ross,
The short answer is yes, however you need to speak with a tax specialist and a Lender to get the exact way to go about it. I am neither of these but I know it can be done.
Mark
This is a Question for a CPA. Call Tanya Weeks, She explained all of this to me Yesterday. Realtors are not allowed to give Tax Advice even if we are informed and up to date.
Tanya Weeks 303-462-3421
Ross,
Great question for your CPA or real estate attorney. They would be best qualified to respond to this question.
Good luck
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in Fort Collins
View all »
Ask a question
|
|
|
|
|||||||||||
|
|
|
|
|
|
Fair Housing and Equal Opportunity