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scarletslippers · Joined: 27 Jan 2010 Posts: 1 1.28 Dollars($)

My boyfriend and I want to purchase a house. I have previously owned a house and he hasn't. We will be using my money to put a down payment on the home and he will be getting a mortgage in his name. Can we put my name on the Deed, with his, and still claim 1st time home buyer for him?

gmakerley · Posted: Wed Jan 27, 2010 2:10 pm Post subject:

you didn't say how long ago you owned, scarlet; but if you've owned in the last 3 years, you could cause the credit to slip through your fingers. here is the topic as addressed on the irs website:

For homes purchased after April 28, 2008, and before November 7, 2009, taxpayers (including spouse, if married) who owned a principal residence at any time during the three years prior to the date of purchase are not eligible for the credit. This means that you can qualify for the credit if you (and your spouse, if married) have not owned a home in the three years prior to a purchase. For homes purchased after November 6, 2009, long-time residents can also get the credit under a special rule for a qualifying replacement home. To qualify, you must have owned and used the same home as your principal residence for at least five consecutive years of the eight-year period ending on the date you buy your new principal residence.

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Name on Deed 1st time home purchaser