Long time home buyer's credit

[JenMO]

TP and wife got a divorce, sold house they had lived in for over 10 years. TP moved and purchased new home in different city within the time frame. Can he take the long time homebuyer's credit on this new home? He can provide all the documentation, but it will have both names on it. Does it matter? Ex wife did not purchase a new home.

[Dusty2004]

Maybe

TP and wife got a divorce, sold house they had lived in for over 10 years. TP moved and purchased new home in different city within the time frame. Can he take the long time homebuyer's credit on this new home? He can provide all the documentation, but it will have both names on it. Does it matter? Ex wife did not purchase a new home.

If he meets all the other requirements yes - he would qualify. Owning a house with an ex spouse does not disqualify you from the Long Term Home Buyers Credit.

Dusty

[JenMO]

thanks, that's what I thought, but couldn't find any thing in TTB about it.