FTHB-Two Owners?

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  • zeros
    Senior Member
    • Dec 2006
    • 921

    #1

    FTHB-Two Owners?

    I think I saw this previously but can't locate now. Client and girlfriend purchased house together. Can each one claim 1/2 the credit? Can I assume the paperwork would have to be in both names to claim and IRS to verify?
  • Dusty2004
    Senior Member
    • Dec 2009
    • 374

    #2
    Both can claim part of the credit

    You can use any appropriate method to determine who gets the credit.

    % Based on down payment
    % Based on how much each is paying monthly
    Equal Percents
    Etc.

    Yes, both names have to be on the mortgage and the closing papers.

    Dusty

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