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legaleagle
legaleagle, Attorney
Category: Tax
Satisfied Customers: 13441
Experience:  Completed Fed Income Tax in law school, 10 years preparing personally tax returns
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I purchased my home in Oct. 2009 from my father-in-law. I have

Customer Question

I purchased my home in Oct. 2009 from my father-in-law. I have a legitimate mortgage and the home was purchased at appraised value. At tax time I found out i could not claim the 1st time buyers credit because I purchased it from a relative. Why should I be punished for buying my first house from my Father-in-law? It is no different than if I had purchased it from the neighbor down the street. I have all the legitimate documents to prove it was a legal transaction. Do you think they will revisit this clause and allow us to receive the credit in the future by amending my 2009 return?? I think I have 3 years to amend it if they would...correct?
Submitted: 3 years ago.
Category: Tax
Expert:  legaleagle replied 3 years ago.
Chat Conversation Started
legaleagle :

Unfortunately the credit was written so that you do not get it if you buy from a family member. It does not appear that the decision will be changed by the IRS or Congress. Yes you do have 3 years to amend.

Customer :

I was not satisfied with the vague answer and would like to request my deposit to be refunded immediately.

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