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    marriedinmay's Avatar
    marriedinmay Posts: 3, Reputation: 1
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    #1

    Apr 15, 2009, 06:07 PM
    Tax credit for 1st time home buyer
    My fiancé has never purchased a house so we would like to take advantage of the $8000 1st time homebuyer tax credit. I however own a home. Does he need to buy our next home without me on the title? Can I be a co-signer for the loan even if I am not put on the title? Can we be married? (Our wedding is in May 2009)
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 15, 2009, 07:55 PM

    The credit is 10 percent of the purchase price of the home, with a maximum available credit of $8,000 for either a single taxpayer or a married couple filing jointly. The limit is $4,000 for a married person filing a separate return. In most cases, the maximum credit will be available for homes costing $80,000 or more.

    So your fiancé is eligible for rebate as long as you do not file joint return. Your U.S. Tax Return: First-Time Homebuyer Credit
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