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hensche
Guest
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 Posted: Tue Sep 15, 2009 11:59 am Post subject: parent co-signer FTHB question |
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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
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 smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Tue Sep 15, 2009 8:45 pm Post subject: |
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Hi hensche!
Welcome to forums!
If you do not qualify for the first time homebuyer tax credit, then you should not include your name in the mortgage or the property deed. If you do so, it may make your daughter ineligible for taking advantage of tax credit.
Feel free to ask if you've further queries.
Sussane |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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| Posted: Thu Sep 17, 2009 11:45 am Post subject: |
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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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George M. Akerley
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1737
36.13 Dollars($)
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| Posted: Sun Sep 20, 2009 6:36 pm Post subject: |
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| If you owned a house in the last three years and co-sign your daughter will also not get the credit |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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| Posted: Mon Sep 21, 2009 8:47 am Post subject: |
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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.
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George M. Akerley
Loan Consultant
860-221-5044 |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1737
36.13 Dollars($)
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| Posted: Mon Sep 21, 2009 5:28 pm Post subject: |
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| Opps. My mistake I missed it |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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| Posted: Tue Sep 22, 2009 7:10 am Post subject: |
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it happens...
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George M. Akerley
Loan Consultant
860-221-5044 |
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