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My boyfriend and I are buying a house together, we are each contributing exactly half of everything. However my credit was not good enough to use for getting the loan so my b.f. name is the only name on the promissory note but my name will be added onto the title once the loan has gone through. Can I claim half of the tax credit for this year on my taxes since we are not married but I have contributed half of the down, and we will each pay half the mortgage each month?
Danielle

manoj_gopale · Joined: 16 Feb 2009 Posts: 488 0.00 Dollars($)

Danielle,

Welcome to mortgagefit..

jenkin7 · Posted: Wed Oct 14, 2009 11:54 pm Post subject:

Hi Inad,

I believe it is quite possible for you to claim half the tax credit on your taxes as long as you are on the title. You need to have an ownership interest in the property to qualify for the tax credit and you must not have owned a principal residence within the past 3 years. It is not necessary for your name to be on the mortgage. A first time buyer can even choose to buy the property with cash, without requiring any mortgage and still qualify for the tax credit.

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2009 first time home buyer credit question