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27592 : Real Estate Advice

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Thu Feb 18, 2010
Bob McClure answered:
good afternoon....your question is more of an accountant inquiry...but my opinion is the answer to your question is yes, you would qualify....i would also ask the accountant if you would need to file married filing seperatley to assure you of recieving the tax credit since your wife did own a home within the past three years...your federal income tax liability will ikely be higher but far offset with the tax credit....lastly..remember ..the tax credit is 10% of the sales price of the home up to $8, regards...bob mcclure- first preferred mortgage- southfield, michigan... ... more
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