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    more FTHB

    my 1st FTHB inquiry - wife "owned" home before marriage and she and husband have lived there over 5 years (husband's name was never put on deed) - do they qualify for $6500 long time homeowner credit if they purchase new house together now? Would it matter if wife bought the new house in her name only?
    My feeling is that because husband did NOT own home, they would NOT qualify for $6500 - have seen lots of FAQs but not this exact situation?

    #2
    Originally posted by luke View Post
    my 1st FTHB inquiry - wife "owned" home before marriage and she and husband have lived there over 5 years (husband's name was never put on deed) - do they qualify for $6500 long time homeowner credit if they purchase new house together now? Would it matter if wife bought the new house in her name only?
    My feeling is that because husband did NOT own home, they would NOT qualify for $6500 - have seen lots of FAQs but not this exact situation?
    One of IRS Q and A's addresses this and specifies both must own the previous home.
    ChEAr$,
    Harlan Lunsford, EA n LA

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