Welcome Guest. Register Now!  


For 2013 Tax Tips For Year 2013.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-03-2014, 12:56 AM
Junior Member
 
Join Date: Feb 2014
Posts: 3
Paying back 2009 house credit this year but... help!

So my brother is in a unique situation where he was married by common-law married in Colorado with his now ex wife of this year (2013) but his name was never on their house loan when they received the 2009 tax credit of $8000. They ended up moving out of the house when they needed to live in the house for at least three years to maintain the credit and now the government wants the credit back since the rule was broken.

His ex wife claims that he owes $4000 for the credit even though his name was never on the loan and the credit went into the house that her and her father owns. The catch is that my brother and her always filed jointly then they had their son in 2006. Also in the divorce decree it says that the house is hers and her father only and my brother owns none of it. Does he owe? Please help!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-07-2014, 01:41 PM
Junior Member
 
Join Date: Feb 2014
Posts: 3
Exclamation Can anyone help?

Can anyone help? Please!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 02-08-2014, 01:40 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,227
Quote:
Originally Posted by Jmg1982 View Post
So my brother is in a unique situation where he was married by common-law married in Colorado with his now ex wife of this year (2013) but his name was never on their house loan when they received the 2009 tax credit of $8000. They ended up moving out of the house when they needed to live in the house for at least three years to maintain the credit and now the government wants the credit back since the rule was broken.

His ex wife claims that he owes $4000 for the credit even though his name was never on the loan and the credit went into the house that her and her father owns. The catch is that my brother and her always filed jointly then they had their son in 2006. Also in the divorce decree it says that the house is hers and her father only and my brother owns none of it. Does he owe? Please help!
aslongas your brother’s name was on the title/deed, that counts as home ownership even if his name was not on the loan; so aslongas his name is on the title and the house is going to be his primary residence for the next several years, then he is eligible assuming he meets other qualifications. The credit is available only to a person where it will be their primary residence.also as you said, they always filed jointly then they had their son in 2006. Filing their returns jointly means that by filing a joint tax return, both spouses report all their income, deductions, and credits on one tax return. Both spouses must sign the return, and both spouses accept full responsibility for the accuracy and completeness of the information reported on the tax return. If the tax is unpaid, each spouse is held personally responsible for the payment. In other words, each spouse is held jointly and severally liable for the taxes filed on a jointly filed tax return.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #4 (permalink)  
Old 02-08-2014, 07:11 PM
Junior Member
 
Join Date: Feb 2014
Posts: 3
Quote:
Originally Posted by Wnhough View Post
aslongas your brother’s name was on the title/deed, that counts as home ownership even if his name was not on the loan; so aslongas his name is on the title and the house is going to be his primary residence for the next several years, then he is eligible assuming he meets other qualifications. The credit is available only to a person where it will be their primary residence.also as you said, they always filed jointly then they had their son in 2006. Filing their returns jointly means that by filing a joint tax return, both spouses report all their income, deductions, and credits on one tax return. Both spouses must sign the return, and both spouses accept full responsibility for the accuracy and completeness of the information reported on the tax return. If the tax is unpaid, each spouse is held personally responsible for the payment. In other words, each spouse is held jointly and severally liable for the taxes filed on a jointly filed tax return.
The only people on the title/deed is his ex and her father. The house was their primary home but now she rents the house out and in the divorce decree she got the entire house. Do you still think he needs to pay since they filed jointly but he never owned any part of the house?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #5 (permalink)  
Old 02-08-2014, 08:44 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,227
Quote:
Originally Posted by Jmg1982 View Post
The only people on the title/deed is his ex and her father. The house was their primary home but now she rents the house out and in the divorce decree she got the entire house. Do you still think he needs to pay since they filed jointly but he never owned any part of the house?
ok I see what you mean; as the wife remains in the home as one of the exclusive owners after the divorce it would appear his-ex,not he himself, is now obligated to repay the penalty since she still has the advantage of the ownership;your brother is no longer responsible for the penalty because the home was actually transferredto her in a divorce and that makes her responsible.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
We always get all our fed taxes back, why not this year? scrltlttr1 Income 1 01-29-2014 08:17 AM
Back-to-School Tips for Students and Parents Paying College Expenses Samatg General 0 08-16-2011 03:15 PM
nyc school tax credit 2009 MrZ68 Miscellaneous 1 01-31-2010 07:37 PM
Bought house in Dec 2008, anyway to still get the $8000 tax credit!? CandC Homeowner Tax 0 12-11-2009 05:47 PM
If I Use My 401k For A Down Payment On A House And I Sell The House Within 4 Months ? anunez IRA/Sep 1 06-03-2007 02:34 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning