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2009 tax credit for borrower and co-borrower.

Posted on: 27th Jul, 2009 07:12 am
If two first time home buyers, unmarried and living in the home together, purchase a home as borrower and co-borrower, do they both qualify for the tax credit or do they have to split the 8k?
yes, as unmarried persons filing separate tax returns, you two would split the $8000 at $4000 apiece.
Posted on: 27th Jul, 2009 08:35 am
since both of you are enjoying same property, you will get tax credit of 8k max. you need to split it
Posted on: 27th Jul, 2009 10:38 am
not to mention that the irs has ruled in this sort of situation, setting out its guidelines.
Posted on: 27th Jul, 2009 10:47 am
I want to point out something that always gets left out of this scenario, but is important...

It is 10% of the purchase price UP TO $8000.
Posted on: 27th Jul, 2009 11:31 am
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