The Federal Tax Credits Blog

Question: Question about 8,000 first time home buyer tax credit.?

My girlfriend and I are planning on buying a house together (unmarried).
So I assume one of us would be the primary loan holder and the other the co-signer on the loan. We are both first time home buyers.

1. Would we both get an 8k tax break on the house when we were filing our taxes, or is this double dipping?

2. If the answer is no…would one of us be foregoing our 8k tax break in the future should this tax credit be extended beyond november?

Thanks

Answer: BEFORE purchasing a house together go to an Atty and have a VERY detailed contract drawn up to indicate EXACTLY, down to this credit, what will happen if you break up. If you do not think this a VERY serious matter then just read a bit in the real estate area of this site.

No you would be CO OWNERS on the loan if you use both your informations to get the loan.

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