Also, keep in mind that if you make over $75K/year, you do not qualify for the tax credit.
Sincerely,
Julie Wright
Bette Butz Realty, Inc.
407-616-5132
jwright68@cfl.rr.com

I am working with Clients in this same scenario,....everything we have found says yes you would qualify..but i would advise talking to your accountant to confirm it! Good Luck!

I found your answer in the "Scenario" section on the IRS page I gave you. It appears you do qualify but I would still ask.

The scenario and answer were copied from the IRS website at http://www.irs.gov/newsroom/article/0,,id=206294,00.html

S2. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?

A. Yes. Taxpayer B is not a first-time homebuyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A's primary residence.

If you do not have a tax advisor or accountant, you could always go directly to the IRS website. The link below will take you to the IRS site regarding the $8000 tax rebate.

http://www.irs.gov/newsroom/article/0,,id=187935,00.html

Good luck!!

I agree with Jim to speak with an accountant, but I think that if you are the only one on the title (and your dad in only on the mortgage) you will be eligible for the credit.

I would speak to a tax advisor/accountant.