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What qualifies as a linear decentant.

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JAKE Guest	Posted: Thu Nov 05, 2009 9:27 pm    Post subject: What qualifies as a linear decentant. I am buying a home from my brother-in-law and my sister. I have asked two different tax specialist and one said that i qualify, and the other said that i don't. I just want to know once and for all! Thanks! _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jenkin7 Joined: 04 Jun 2007 Posts: 3429 Location: Hawaii 514.13 Dollars($)	Posted: Thu Nov 05, 2009 10:17 pm    Post subject: Hi JAKE, You cannot qualify for the tax credit if you purchase the property from your ancestors, your lineal descendants or your spouse. Your sister is not your lineal descendant. Your children, grandchildren would be your lineal descendants. Thus, I believe you should be able to qualify for the first time buyer tax credit if you buy the house from your sister.

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