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I purchased a home 7 months ago. This was my first home purchase but, my Mom about 7 yrs. ago put my brother and my name on her deed for trust reasons. I am on her deed but not the mortgage. Would I qualify for the 8k?

jameshogg · Posted: Tue Mar 02, 2010 9:36 pm Post subject:

Hi cfmolina,

As your name is mentioned on the property deed for your mother's property, you would be considered as one of the owners of that property. Thus, you won't be considered as a first time homebuyer. As you are not a first time buyer, you won't be able to take advantage of the tax credit.

Thanks

jveenstra · Posted: Wed Mar 03, 2010 1:39 pm Post subject: FTHB

If you lived in the home as your main residence with your mother, you may be eligble for th $6,300 if you lived there 5 of the last 8 years.

If you did not live in the house with your mother it was not your main home. The criteria for the first time home buyer tax credit of up to $8,000 states you can claim the credit if you and your spouse (if married) have not owned a MAIN home in the 3 yeasr prior to purchase. If you did not live with your mother it was not your main home and you appear to be eligible for the tax credit.

See an accountant and get that credit.

jveenstra · Posted: Wed Mar 03, 2010 1:41 pm Post subject: FTHB

If you lived in the home as your main residence with your mother, you may be eligble for th $6,300 if you lived there 5 of the last 8 years.

If you did not live in the house with your mother it was not your main home. The criteria for the first time home buyer tax credit of up to $8,000 states you can claim the credit if you and your spouse (if married) have not owned a MAIN home in the 3 yeasr prior to purchase. If you did not live with your mother it was not your main home and you appear to be eligible for the tax credit.

See an accountant and get that credit.

jveenstra · Posted: Wed Mar 03, 2010 1:41 pm Post subject: FTHB

If you lived in the home as your main residence with your mother, you may be eligble for th $6,300 if you lived there 5 of the last 8 years.

If you did not live in the house with your mother it was not your main home. The criteria for the first time home buyer tax credit of up to $8,000 states you can claim the credit if you and your spouse (if married) have not owned a MAIN home in the 3 yeasr prior to purchase. If you did not live with your mother it was not your main home and you appear to be eligible for the tax credit.

See an accountant and get that credit.

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