First Time Home Buyer Credit and Filing Taxes

In 2009, were you "legally" separated? You also say you were separated for 2 years, how did you file last year? I would think it would be the same this year. The reason I ask "legally" is because if there was no legal document than the IRS considers you married. Based on your questions, it sounds like your husband is filing as "married filing separately" and wants to make sure your not claiming the same deductions.

Are you using a tax preparation software? If yes, it should help guide you through this. Try using their on-line help. You can also try calling the IRS.

If your just trying to do your taxes yourself, you may want to consider hiring a tax professional for this year due to your unique circumstances.

I'm sorry that I can't be of more help, but my suggestion would be to find a decent CPA who could help you. The last thing you want to do is try and figure it out on your own and have issues with the IRS. Good luck, and I hope you get the tax buyers credit!

I'm a public accountant, but without knowing all the details of your life, I can only give you the basics. The first time home buyer credit is for people who have never purchased a house or people who have bought a house but not in the last five years before the current purchase. Even if while you were married you had ownership in the primary residence for any of the past 3 years you would not be eligible for the credit. Also, if your married filing separately the credit may be limited to $4,000. Next, when owning a home you will probably choose to itemize due to mortgage interest, property taxes, etc if the amount exceeds your standard deduction. However, if you don't have enough to itemize then remember your allowed to claim the standard deduction plus the real estate taxes paid (up to $500 if your single). Dependent issues: If your child lives with you and you support the child then you would claim the child as a dependent unless otherwise noted in a divorce decree. In addition, you should be able to receive a credit for the child care expenses paid. The credit is based on your income and the amount of child care paid. Just to add if you are legally separated on the last day of the year by a divorce decree then you should be able to file head of household (if you have children) or single (without children). I hope this helps with the confusion, but as an accountant I suggest you find a CPA to help you with filing a return.

Suggestion here is to have a professional do it this year. your talking a couple hundred dollars to get a large sum of money back. Worth the cost this time around to have it done right so you don't get audited.

Yep, definitely get a good tax pro to help you this year.

A contact of mine named Lisa Decker owns a company called Divorce Money Matters. Her phone number is 866-722-7226. I met her at a women's networking group here in Atlanta and she is a wonderful person who specializes in exactly these situations. She will absolutely be able to help you with this.

L. Z.

You will have to file long form (itemized) because of the house more than likely. Child care expenses are not the same as claiming the dependent.

Go to a professional tax person if you are feeling this overwhelmed. And I don't recommend going to a big chain one either like H & R block. They over charge you and get you to do extra stuff like get their 'rapid refund' where they give you your refund money and then when you get your money from the IRS, you have to pay H and R back. It's like a cash advance if you will. Just wait the 2 weeks and get your money straight from the IRS!!

Good luck!
S.