topic My ex-spouse and I purchased a home in 2008 and took the first time home buyers credit. In 2015 I transfered the house into her name. On form 5404 I see this as being an exception for not having to pay back the credit. In 2016 that particular house was so in Deductions & credits

My ex-spouse and I purchased a home in 2008 and took the first time home buyers credit. In 2015 I transfered the house into her name. On form 5404 I see this as being an exception for not having to pay back the credit. In 2016 that particular house was so

itsjoanie — Sat, 01 Jun 2019 07:33:10 GMT

I am having an issue with this. My ex-spouse and i purch...

lmay2017- — Sat, 01 Jun 2019 07:33:14 GMT

I am having an issue with this. My ex-spouse and i purchased a home in 2008 and it was transferred to her via divorce and she refinanced and as of last year she was liable for repaying the remainder of the credit but i still have to fill out the form on my taxes as my Social was the primary connected with it and this software won't simply allow me to fill out the form and this is the only thing holding up our tax return from being completed and filed.

Taken from IRS website: https://www.irs.gov/uac/first-ti...

NancyG — Sat, 01 Jun 2019 07:33:17 GMT

Taken from IRS website: https://www.irs.gov/uac/first-time-homebuyer-credit-scenarios

S14. During their marriage, Taxpayer A and B purchased a home together and claimed the credit. Later they divorced and Taxpayer A transferred the home to Taxpayer B under the divorce decree. Taxpayer A did not keep any interest in the home. Are repayments waived for Taxpayer A?

A. If the home was purchased in 2008, Taxpayer A is no longer required to repay any remaining amount of the credit. Taxpayer B now is responsible to repay the entire remaining amount of the credit in equal annual installments. If they purchased the home in 2009 or 2010, and Taxpayer B sells or stops using the home as her main home the home within 36 months after the purchase date, Taxpayer B must repay the entire amount of the credit if there is gain on the sale of the home.

Related Items:

First-Time Homebuyer Credit Questions and Answers: Claiming the Credit on Your Tax Return
First-Time Homebuyer Credit Questions and Answers: Basic Information
First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2008
First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009
First-Time Homebuyer Credit

Re: My ex-spouse and I purchased a home in 2008 and took the first time home buyers credit. In 2015 I transfered the house into her name. On form 5404 I see this as being an exception for not having to pay back the credit. In 2016 that particular house wa

Malissa41301 — Fri, 24 Apr 2020 05:46:24 GMT

IN 2008 MY EX-HUSBAND BOUGHT A 2008 CLAYTON MOBILE HOME AND CLAIMED ME AND MY KIDS ON HIS TAXES WITH A FIRST TIME HOME OWNERS MY DAUGHTER GOT KILLED IN 2009 AND IT CAUSED US TO GET A DIVORCE AND HE GOT THE HOME IN THE DIVORCE IN 2010 WILL THE IRS CLEAR ME OF THE FIRST TIME HOME OWNERS I AM NEEDING TO GET THIS FIXED I AM ON SSDI