Home Buying in Brookline>Question Details

Homebuyerguy…, Home Buyer in Carmel, NY

I have owned and lived in a house for 5 years. I recently got married, my wife has never owned property. I do not qualify for the first time, and

Asked by Homebuyerguy911, Carmel, NY Fri Nov 20, 2009

because she has never owned the house do we now not qualify for the 2nd as well? Seems a bit strange that we cant get either of them, yet I owuld qualifiy alone for the $6500 and she would qualify alone for the $8000. ????? Am I missing something or am I out of lu ck.

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This is really a question for your tax accountant. If you file your taxes together you should at the very least be able to qualify for the 2nd time owner, $6500 (unless i am missing a piece of your story). Check with them and let us know what you find out. It is a very interesting question.

Good luck!
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1 vote Thank Flag Link Fri Nov 20, 2009
You are buying it together? You will qualify for second-time buyer only.
0 votes Thank Flag Link Tue Mar 2, 2010
A great website that may help in the complicated situation is: http://www.federalhousingtaxcredit.com

Also, I would recommend you contact an accountant. I highly recommend Lewis Weinstein at 781-444-2299 or lewis@generationtax.com. Additional information can be found at his website at http://www.generationtax.com. Lewis is prepared to answer specific questions on the new home buyers credit.

Let me know how things work out. Karen
0 votes Thank Flag Link Fri Nov 20, 2009
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