Needs:

I think the IRS can answer that for you best... IRS.gov has phone numbers and I understand that the on hold times are short.... with you getting a 'human being' to answer your questions in short haste.

You will NOT suffer in regards to the tax credit because of the marriage issues, IMO.

Worse case... one takes the FULL credit. But if you are both on the title, then you shouldn't get too much resistance from the IRS. Remember.... there was a lot of fraud with this program last year so do not take the extra questions as an indictment against you personally.

Work through it... You should be fine.
I have done loans for same sex partners before and things usually work out fine.

Mary beth,

Thanks for your help. We are two women who can't legally file as "married". My spouse does make over 125,000 but together we do not make over 250,000. Does that mean we can still claim the tax credit at $4000 each on our 2009 taxes?

Many of my clients have to purchase their home with only one partner on the loan. Both names can go on the deed but the actual loan is in one name. As far as the $8000 tax credit the only restriction will be the income restriction of $125,000 for a single and $250,000 for a couple.

Good luck in your home purchase and if I can be of service in your home search let me know.

Mary Beth Harrison
The Harrison Group
214-365-6500
mbh@DallasNative.com

I believe that you will qualify for the tax credit whether or not you are on the loan. You might need to check with your CPA to ensure there are no complications that we don't know about. The only concern typically with only one spouse being on the credit app is qualifying income. Will her income alone suffice for the loan amount that you are trying to get?

Good Luck!

Leaving one spouse off of the loan should not affect the tax credit.
Unless I am missing something?

Are you coming to this conclusion yourself? Or did a lender tell you this?