Home Buying in 92647>Question Details

Teresa, Home Buyer in 92647

If two first-time home buyers buy a house together, could the total tax credit (ending 30 November 2009) for the house be $16,000?

Asked by Teresa, 92647 Mon Oct 12, 2009

not married people

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2
Harrison K. Long’s answer
This is a legal question involving analys of the detail on US First Time Homebuyer Tax Credit Law. For answer to this and other hypothetical questions, I recommend that you contact the IRS directly ... or see their web site at http://www.IRS.gov. Follow links there to Q and A on first time homebuyer tax credit.

If you already bought this property and closed escrow, consult with your attorney or CPA on whether either one of you can get any part of the first time homebuyer tax credit.

With friends and associates who are highly qualified real estate lawyers here in Orange County, I will provide you with information about them if you let me know about you by email contact or telephone call.

I am a real estate broker ... and also a lawyer for many years here in Orange County. My business is real estate and no longer do lawyering for individual clients.

Harrison K. Long, Coldwell Banker Previews, Irvine, CA.
http://www.ExploreTheOC.com
ExploreProperties@gmail.com
0 votes Thank Flag Link Fri Oct 30, 2009
Absolutely not. Here is a link to the guidelines for the credit:

http://www.federalhousingtaxcredit.com/2009/index.html

Good luck closing your escrow.
1 vote Thank Flag Link Mon Oct 12, 2009
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