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joint ownership

My brother and I are on the home title for purchase.  Can we claim 7500 in credit for first time home buyer?  Or is the 7500 for just one person?
OC, california.
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January 31 2009 - Buena Park
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Answers (2)

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Yes, we're both first time home buyers.  The lender only has my name on the monthly mortgage statement.

Thanks for your answer.
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February 03 2009
Hi,

It's a single $7500 refundable credit. Are you both first time homebuyers? Are you both on the loan too? The problem is that obviosly you don't file jointly....I would check with your CPA to see who should take the credit.....but it's only one per purchase, not one per person.

K
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February 03 2009
 
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