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How does an unmarried couple that purchased a home together file for tax credit?
Wiki User
∙ 14y ago
You may claim just one credit between the two of you. You may divide the credit using "any reasonable method" as long as both of you are eligible to claim the credit. If one of you is not eligible, it is OK to assign the whole credit to the other one who is eligible.
The IRS discusses this in Notice 2009-12 and gives examples:
http://www.irs.gov/pub/irs-drop/n-09-12.pdf
This notice was written before the tax credit was increased to $8000 for 2009 purchases, so it keeps using the $7500 figure.
Wiki User
∙ 14y ago
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If two people are unmarried and building house together can both names be on loan and deed?
YES. There is absolutely no requirement that you be married. I have done hundreds of loans helping unmarried people buy homes together. Also, you will be on the title together if you do the loan together. Just make sure the second person has good credit and that the DTI of the co-borrower does not hurt the overall DTI of the loan.
What is the most commonly purchased type of credit insurance?
credit life insurance
What is credit margin?
The amount of equity required for an investment in securities purchased on credit.
Can you marry someone and not have your bad credit affect their credit?
Credit scores are individual and your marriage to someone with a lower credit score than yours will not affect your credit score. Credit scores are based on how much debt you owe versus how much credit you have available, how you make your monthly payments, etc. It has nothing to do with your spouse's credit. That said, their poor credit may affect your ability, as a couple, to get the best rates on credit that you seek together, e.g. if you attempt to buy a house together. It wouldn't impact your personal credit, but it would impact the loan offer you receive.
What is business credit insurance?
Business credit insurance is a type of insurance that is purchased by businesses selling to other businesses of open credit terms. Business credit insurance guarantees against their business having excessive losses due to their customers inability to pay for goods or services purchased on credit. It is sometimes calledaccounts receivable insurance or trade credit insurance. This should not be confused with consumer credit insurance (e.g. credit life) which is purchased by consumers.
How can a unmarried couple get out of mortage debt?
How can a unmarried couple who have split up get out of mortage and credit card debt.
Do married couples receive lower mortgage payments than an unmarried couple who is co-borrowing?
it's based on your credit place
What are the responsibilities of credit card debt for unmarried couple break up?
The name on the account. If both names are on the account, both are fully liable for the debt.
Can a woman be convicted of fraud for using her husband's credit cards if the couple is living together?
no
If two people are unmarried and building house together can both names be on loan and deed?
YES. There is absolutely no requirement that you be married. I have done hundreds of loans helping unmarried people buy homes together. Also, you will be on the title together if you do the loan together. Just make sure the second person has good credit and that the DTI of the co-borrower does not hurt the overall DTI of the loan.
Can one member of a family declare bankruptcy so the two will not be affected by the credit hold or is a married couple in the situation together?
You are in it together, I am afraid.
Are unmarried parents of the same children who are living together part of the same household for insurance credit purposes in Louisiana under the affordable healthcare act?
Impossible to answer. We do not know the details. You need to speak to a lawyer
If you are not married and want to buy a home together but one of you has bad credit will it bring down the other's good credit?
No. But it will may make it difficult for a couple to get the necessary financing. Or at least reasonable rates, charges.
What is credit margin?
The amount of equity required for an investment in securities purchased on credit.
What is the most commonly purchased type of credit insurance?
credit life insurance
Can you marry someone and not have your bad credit affect their credit?
Credit scores are individual and your marriage to someone with a lower credit score than yours will not affect your credit score. Credit scores are based on how much debt you owe versus how much credit you have available, how you make your monthly payments, etc. It has nothing to do with your spouse's credit. That said, their poor credit may affect your ability, as a couple, to get the best rates on credit that you seek together, e.g. if you attempt to buy a house together. It wouldn't impact your personal credit, but it would impact the loan offer you receive.
What is business credit insurance?
Business credit insurance is a type of insurance that is purchased by businesses selling to other businesses of open credit terms. Business credit insurance guarantees against their business having excessive losses due to their customers inability to pay for goods or services purchased on credit. It is sometimes calledaccounts receivable insurance or trade credit insurance. This should not be confused with consumer credit insurance (e.g. credit life) which is purchased by consumers.
