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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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My wife and I were married on June 5, 2010. Before we were

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My wife and I were married on June 5, 2010. Before we were married, we entered into a contract to purchase a home on April 21, 2010. At that time, I was an elgible first-time homebuyer and she was an eligible long-time resident. We were originally scheduled to close on May 21, before we were married. However, the closing was delayed until June 15, after we were married. Are we eligible for the homebuyer tax credit?
Submitted: 6 years ago.
Category: Tax
Expert:  Merlo replied 6 years ago.

Hello JA Customer,


Your eligibility for claiming either the first time homebuyer credit or long time resident home credit is determined by your marital status on the day you actually complete the closing. It is not determined by the date you signed the sales contract.


Married taxpayers must either both be first time homebuyers or they must both be long time residents to qualify for either credit. While you and your wife each qualified for the separate credits prior to your marriage, once you were legally married you lost your eligibility to claim either of these credits if the closing occurred after the marriage.


I am truly sorry I could not give you a more favorable answer, but that is how the IRS wrote the regulations on both of these credits.


If this was helpful please press the Accept button. It is the only way we receive any credit for helping with these questions.


Thank you JA Customer



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