Soon to be married first-time home-buyer tax credit?

Question

I know that if two people who are unmarried purchase a home and if one of the two does not qualify for the credit because they owned a home in the last three years, that they can allocate the credit entirely to the other home buyer (other criteria notwithstanding).  However, what happens if after the home is purchased, the couple marries later in the same year?  Since both people must qualify when married, does the subsequent marriage nullify the credit?  If the answer is "no", must they amend the prior year tax return, or can they file jointly and still get the credit, or must they file MFS?

Judy · Accepted Answer

As long as they aren't married when the house is closed on, they don't lose the credit if they get married later than year and file a joint return,  but I'd send a letter of explanation along with the application for the credit if you do it that way.

travelguruette · Answer

I would recommend that the person who qualifies amend the previous year return. This will prevent any confusion or IRS questions. When filing MFS you only get half the credit.

tro · Answer

whatever you are at the time of the FTHB credit is submitted is the criteria you follow
if you are single when you apply, that will be your basis
changing your status later in the year has no bearing on your original application and submission as a single person

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Soon to be married first-time home-buyer tax credit?

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