No, he only qualifies if you live in a non-community state and he buys the house without you. He can not add you later either.While single I purchased a home now married my husband %26amp; I purchased a new home does he qualify for the tax ?
This is a question for your CPA. As a Realtor I can't give you advice because I would be liable if incorrect.
Ask your CPA.
If this property is your homestead then you will probably qualify for that tax benefit. The tax code is very complex and only a CPA can give adequate advice.
Also, if he has homestead rights and you get divorced he has to sign off before you could sell the property. Even if he is not on the title he still has homestead rights to the property.
ASK YOUR CPA!!!
EDIT: Understand that this 7500 new homebuyer credit is a loan. It is paid back over 7 years. It is a tex credit that is paid back. You will pay it back on the back end.
He qualifies if he buys on his own. You don't qualify. You would be trying to ';piggyback'; on his eligibility. Congress debated about this for weeks. Everyone said that the program would be abused by people trying to cheat. You aren't cheating. You just don't want to miss out. The rules are supposed to be on irs.gov in 2 weeks. Call your congressman and they may help. You need to read the IRS rule or you might make a mistake.
If either you or your husband owned a house in the last 3 years, you won't qualify for the interest free loan of $7500.
No comments:
Post a Comment