My husband cosigned on a condo loan with his brother 10 years ago, his name is not on deed just the loan. I was wondering, since we are now buying our first house together do we qualify for the first time homeowner credit on our taxes?
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My husband cosigned on a condo loan with his brother 10 years ago, his name is not on deed just the loan. I was wondering, since we are now buying our first house together do we qualify for the first time homeowner credit on our taxes?
A "first time home buyer" as defined for the housing tax credit is someone who has not owned their principal residence for at least the past three years. Being a co-signer on a loan does not make you an owner. So yes, you qualify.
Here's some good info on the credit:
Federal Housing Tax Credit for First-Time Home Buyers: Frequently Asked Questions
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