Posts tagged as:

homebuyer’s credit

Ask the taxgirl: MFS and Homebuyer’s Credit

3 August 2009

Taxpayer asks:
I read your blog everyday and find it enjoyable and knowledgeable.
My question to you today is about the First Time Home Buyers Credit. Last year my client filed MFJ. This year, they purchased a house but their combined incomes are over $170,000 so they are phased out and cannot get the [...]

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Ask the taxgirl: Co-signers and First Time Homebuyer’s Credit

3 August 2009

Taxpayer asks:
I bought my first house in April. I asked my dad to co-sign on the mortgage for me because my credit was not strong enough for a good interest rate. Can I claim the first time homebuyer’s credit?
Taxgirl says:
Yes, you can, so long as you otherwise qualify. From the facts, I’m [...]

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Don’t Be Fooled: Homebuyer’s Credit Fraud is Still Fraud

3 August 2009

With a more or less self-governing tax system, there are always going to be opportunities for fraud. New deductions and expenses create an environment that can make cheating tempting – and the new first time homebuyer’s credit is no exception. However, the IRS is warning taxpayers that they are serious about investigating and [...]

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Ask the taxgirl: Homebuyer’s Credit and Rentals

19 July 2009

Taxpayer asks:
Does a duplex qualify as a main residence for first time home buyer credit purposes? If the person is going to live in one unit and rent the other unit do you have to allocate the purchase price for calculating the amount of the credit?
Taxgirl says:
Assuming that you otherwise qualify for the first [...]

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