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what if my parents co-sign and are on th title with me will i still get the $8000

  • December 01 2009 - Greenville
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Answers (2)

Best Answer

You can still collect 100 percent of the tax credit even if your parents co-sign and are on title. Obviously this will have to be your residence to qualify. And your parents would not be able to file for the credit. The credit is for a maximum of $8,000 (10 percent of purchase price up to $8k). 

Here's a link to the IRS site that will explain it all for you. If you are in doubt, don't hesitate to call the IRS. They can answer all your questions.


http://www.irs.gov/newsroom/article/0,,id=206291,00.html

 
  • December 01 2009
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Profile picture for roseannannis
It is my understanding that the new tax credit for first-time home buyers(enacted Novemer 6, 2009) will permit a parent who has owned property to co-sign for you, thereby enabling you to qualify.
Please check with a mortgage consultant to be 100% certain.
  • December 01 2009
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