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My daughter is the first time home buyer, qualifies for the FTHB credit.
I am co-signing for the house - I will NOT be liviing in the house nor qualify credit. My question is since I am NOT living in the house, no qualfied for the credit, DOES MYDAUGHTER STILL GET THE CREDIT? (Hopefully the answer is YES). Thank you soooo much

smithsussane · Posted: Tue Sep 15, 2009 8:45 pm Post subject:

Hi hensche!

Welcome to forums!

If you do not qualify for the first time homebuyer tax credit, then you should not include your name in the mortgage or the property deed. If you do so, it may make your daughter ineligible for taking advantage of tax credit.

Feel free to ask if you've further queries.

Sussane

gmakerley · Posted: Thu Sep 17, 2009 11:45 am Post subject:

the following is directly from the irs website:

so go ahead and co-sign for your daughter and get her a form 5405 so she can apply for and receive her tax credit.

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sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

If you owned a house in the last three years and co-sign your daughter will also not get the credit

gmakerley · Posted: Mon Sep 21, 2009 8:47 am Post subject:

sunny, please read my post. that information is directly from the irs, and if a first time homebuyer has a non-occupant coborrower, that's allowable.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Opps. My mistake I missed it

gmakerley · Posted: Tue Sep 22, 2009 7:10 am Post subject:

it happens...

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