Posted on: 15th Sep, 2009 11:59 am
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
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
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
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
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.
[System detected duplicate content, converted into image. Thanks.]
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.
[System detected duplicate content, converted into image. Thanks.]
If you owned a house in the last three years and co-sign your daughter will also not get the credit
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.
Opps. My mistake I missed it
it happens...