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beeganddesy
April 12, 2023
Question

Can you claim the First Time Home Buyer Tax Credit if bought out ex-spouse in matrimonial home following separation?

  • April 12, 2023
  • 1 reply
  • 0 views
Turbo-tax questions are confusing to me. To qualify they ask did you live in "another" home that was your principal residence. Technically no, all the same matrimonial home.

    1 reply

    TurboTaxSusan
    TurboTaxSusan
    April 14, 2023

    No, if you already owned a portion of a home, then you can't claim the First Time Home Buyer's Tax Credit when buying out the other owner.

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