Posted by: Roby Robertson | April 13, 2009

Lake Norman Area Real Estate;Who Get’s the 8000 Tax Credit When Couples Are Not Married?

Recently I had some clients ask me a question that was both interesting and one I had not pondered.

So, I did a little research and here is what I found.

If the couple  file jointly, they will split the credit. However, if they file separately the “primary” will receive the credit. The primary will be the person with the lowest credit score. This info came from my mortgage lender.

As you probably know, the definition of First Time Home buyer in deciding if you get the $8000 tax credit is that you have not owned a home within the last 3 years.

However, What if one of the parties has owned a home in the past 3 years and the other hasn’t?

Answer:If the person who is on the mortgage has not owned a home they qualify. If they both have to be on the loan then no $8000 tax credit.  However to be sure, check with a accountant or tax pro.

As a Lake Norman Area Real Estate professional, I am not allowed to nor do I want to give legal or tax advice.  So, please check with a tax professional on these matters.

If you want to read more, here is a link to an Internal Revenue Bulletin on the subject!

If you have questions or interest in this property,please contact your Lake Norman Agent at 704 451 7051 or by email.

See Also:

Be The First To See Lake Norman Hot New Listings as soon as they become available.

Selling Lake Norman; What would my Lake Norman Home Sell For?

Lake Norman Relocation, You Will Want to Consider It

Why Lake Norman is such a great Destination

Roby Robertson 704 451 7051

Committed to Saving My Clients Thousands When Buying and Selling Real Estate

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