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Redfin Real Estate Forums :
Washington DC/Baltimore :
First Time Homebuyers credit
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Re: First Time Homebuyers credit
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astrophysicat
Contributor
Posts: 41
Registered: 12-30-2008

Message 2 of 4

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dirtdigger, If your spouse doesn't qualify then you don't qualify. I'm pretty sure. Check the IRS website for details though, they explain it pretty clearly.
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11-02-2009 09:25 AM
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Re: First Time Homebuyers credit
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jimi
Contributor
Posts: 27
Registered: 08-19-2009

Message 3 of 4

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Please read IRS Form 5405 available at irs.gov. In my opinion, the stated regs do not directly address your situation. The specific hurdle for you is in the "Who qualifies for the credit " section: Specifically, "You (and your spouse if married) did not own any other main home during the 3-year period ending on the date of purchase."
Well, technically .... you AND your spouse did not own. Only your spouse owned. It does not read, "You and/OR your spouse" did not own! Ha! That's a pretty slim case though, which would take the position that "if it's not specifically excluded, it's allowed". If it were me, I'd probably apply for it ... but I absolutely wouldn't count on it!(or spend it for quite awhile). Just an opinion, good luck!
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11-02-2009 10:06 AM
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