First Time Home Buyer Tax Credit repay? My girlfriend and I took advantage of the Tax Credit last year and purchased a new home. We were both first time home buyers. To make tax season easier, she claimed the credit herself and we utilitized the credit together for home purchases. One year in and we split up. I am currently in an apartment and she is retaining the house for the time being. Regardless what happens, one of us will be remaining in the house for at least the 36 month time frame required for the Tax Credit. For one of us, the new home will not be our "primary residence" in reality, however both names will remain on the mortgage. Will we be required to repay the tax credit since one of us will be claiming an apartment as a residence for partial year 2011 and most likely an entire year 2012? Does it matter that the tax credit was claimed soley on her taxes?
Any help or comments are appreciated (except for the relationship advice of purchasing a home with your girlfriend :P ). Thanks! |