From the IRS site...S1. If a single person (Taxpayer A) qualifies as a first-time homebuyer at the time he/she purchases a home with someone (Taxpayer B) that is not a first-time homebuyer and then later that year they marry each other, is the credit still allowed?
A. Eligibility for the first-time homebuyer credit is determined on the date of purchase. If Taxpayer A, a first-time homebuyer, buys a house and then later that year marries Taxpayer B, not a first-time homebuyer, the credit is allowable to Taxpayer A. Taxpayer A may take the maximum credit.
Q. If two unmarried people buy a house together, how do they determine how much each may take of the credit?
A. IRS Notice 2009-12 provides guidance for allocating the first-time homebuyer credit between taxpayers who are not married...http://www.irs.gov/pub/irs-drop/n-09-12.pdf
You can also take a look at the Form you'll fill out to claim the Credit...http://www.irs.gov/pub/irs-pdf/f5405.pdf
It has a lot of info on it and may help....IRS site for Homebuyer Tax Credit...http://www.irs.gov/newsroom/article/0,,id=187935,00.html
Tax assistance Centers in WI...If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you're more comfortable talking with someone face-to-face, visit your local Taxpayer Assistance Center where you can spread out your records and talk with an IRS representative across the counter. No appointment is necessary - just walk in.
Good luck, Dunes
If you are not married then you can purchase the home and the credit can go on your individual tax returns. Please check with a tax advisor for a true picture of what you can and can't do but below are the rules for the tax credit.
Here is another good resource and faq area: http://www.wisconsinhomebuyer.org/faqs.html
First-Time Home Buyers Only
* You are considered a first-time buyer if you have not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.
* Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income (MAGI) is less than $75,000.
* For married couples filing a joint return, the income limit doubles to $150,000.
* Single or head-of-household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first-time home buyer tax credit.
* Married couples who earn between $150,000 and $170,000 are eligible to receive a partial first-time home buyer tax credit.
* The credit is not available for a single taxpayer whoâ€™s MAGI is greater than $95,000 and married couples with a MAGI that exceeds $170,000.
* The home must be located in the United States. Property located outside the U.S. is not eligible for the credit.
Effective Dates for the Tax Credit
* To qualify, you must actually close on the sale of the home on or after January 1, 2009 and before December 1, 2009.