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First-Time Homebuyer Credit: Scenario 1

Posted on 01-29-2010
First-Time Homebuyer Credit: Scenario 1
 
S1. If a single person (Taxpayer A) qualifies as a first-time homebuyer at the time he/she purchases a home with someone (Taxpayer B) that is not a first-time homebuyer and then later that year they marry each other, is the credit still allowed?
A. Eligibility for the first-time homebuyer credit is determined on the date of purchase. If Taxpayer A, a first-time homebuyer, buys a house and then later that year marries Taxpayer B, not a first-time homebuyer, the credit is allowable to Taxpayer A. Taxpayer A may take the maximum credit.
 
 
Felecia Fisher
Loan Officer
1200 E Stan Schleuter Loop Ste 100
Killeen TX 76549
254-680-3358 (office)
254-368-7489 (cell)
254-690-4574 (fax)
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