If my husband and his mother buy a home jointly, will they still qualify for the First Time Home Buyer tax credit since I own a home (my name only) ?
The home I own is in my name only and was purchased long before I was married. Neither my husband or his mother have owned a home in the past 3 years.
Answers (2)
As I understand it, your husband would NOT qualify because you, his spouse, do own a home. Is there a reason the mother wouldn't purchase on her own?
This is a question that must be directed to a tax professional, and as advised, I agree that you need to see the advice of a CPA or a tax preparer familiar with the tax credit laws.
Best to all of you.
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FIRST ANSWER
Jessi2321, this is really a question for your tax preparer. I would contact an accountant for the correct information. Good luck!
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