Eli Posted March 13, 2010 Report Share Posted March 13, 2010 Clients married in August 2009. He was a current homeowner at time of the marriage. They jointly purchased a new home in 2010(Both names on all paperwork). Looking at the scenarios on the FTHB page on IRS.GOV appears they don't qualify for the credit. Just wanted to confirm that I am correct on this. Thanks! Eli Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted March 13, 2010 Report Share Posted March 13, 2010 I think you are correct. Kinda sucks, but that is how I am reading it too. However, if they get an annulment, she could get the credit, and then they can get married again. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Eli Posted March 13, 2010 Author Report Share Posted March 13, 2010 However, if they get an annulment, she could get the credit, and then they can get married again. Tom Lodi, CA Not sure how that works, but they just had a baby a few days ago not sure that would be possible :-) Thanks, Tom! Eli Quote Link to comment Share on other sites More sharing options...
Cathy Posted March 13, 2010 Report Share Posted March 13, 2010 Clients married in August 2009. He was a current homeowner at time of the marriage. They jointly purchased a new home in 2010(Both names on all paperwork). Looking at the scenarios on the FTHB page on IRS.GOV appears they don't qualify for the credit. Just wanted to confirm that I am correct on this. Thanks! Eli Eli, To confirm what Tom said, that's correct. Both spouses must have OWNED and LIVED IN the SAME home in order to qualify for the long time credit. For the 1st time credit, NEITHER spouse could have owned a home.....just another tax code that penalizes married couples.....also what we get when congress hurriedly pass laws! Cathy Quote Link to comment Share on other sites More sharing options...
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