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First time buyers tax credit

Profile picture for scunning
If I'm buying a home with my sister, both names on mortgage and it's her first home but not mine, can she still receive the 8,000 tax credit?
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November 09 - US
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Profile picture for MikeEmery
Real Estate Agent
Contributions: 2417
Zillow All-Star

Since December 2008

Yes, as long as she meets the qualifications for the program she would be eligible for the tax credit. The home would have to be HER primary residence for the next three years and not be used as a second home or vacation home. Since you are not eligible for the tax credit there are no such restrictions on whether or not you occupy the home (except for mortgage purposes, but that's a whole 'nother story.)

 http://www.irs.gov/newsroom/article/0,,id=206291,00.html
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November 09
Your best bet, check with her accountant.
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November 09
 

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