Tax Credit Home Purchase 2010
January 30th, 2010
Question: Will I be eligible for the $8000 tax credit?
My fiance and I will are purchasing his grandmother’s home and will be closing on August 28,2009. We are both first time homebuyers. We will not be married until June 2010. I know that my fiance will not be eligible for the tax credit because we are buying it from his grandmother. Will I be eligible to claim the full $8000 tax credit since I am not related to her?
I forgot to mention…that we will both be on the mortgage. Does that make a difference?
the house is over $80,000
Answer: You can claim the credit, all $8000 of it, since you won’t be a relative when you close. Your fiance can’t.
Both of you being on the mortgage doesn’t change anything.
Homebuyers only have another 3 months to utilize tax credit
Home sales across the Midwest continue to lag as prices sink to lows not seen in more than a decade. There is, however, a silver lining. The next three months could present the last opportunity for bargain buying before a homebuyer tax credit expires and interest rates potentially increase.
2010 CURRENT Home Buyer Tax Credit – forgotten details
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