Stop Taxing My Patience Contest

I know people have a million questions around tax time so I’m here to help. In fact, I am hosting a contest with Office Depot and H & R Block- Starting January 27 through February 3, visit  TaxMama.com to post any questions that are “Taxing Your Patience” and you just might win a copy of H & R Block’s “At Home” Premium software – courtesy of Office Depot – to help you with your taxes this season.

The At Home software is a great tool for do-it-yourself tax preparation; it allows you to do easy step-by-step Q&A searches for hundreds of deductions to help you save money AND it automatically double-checks for errors

HOW TO ENTER: Entering the contest requires the following three things:

  1. You must be a free member of TaxMama.com. Choose a username, password, enter your name and email address and register here
  2. Post your question on the “Taxing My Patience” forum
  3. You must be eligible for the competition – see rules and regulations here

2 thoughts on “Stop Taxing My Patience Contest

  1. TaxMama says:

    Hey Tom.

    Yup. It’s true.

    She isn’t a related party.
    She didn’t own the house before.
    If she buys part of the house, she may claim the first time homebuyer’s credit for up to 10% of her ownership interest in the house.

    Of course, HE has a sale.

    AND, heaven help him if he ever wants to break up with her. SHE now owns enough of his home not to be kicked out.

    Not a smart move.

    But you’ve got to give her credit – well, at least a first-time hombuyers credit….

  2. Thomas-Avery Blair says:

    Shocked to learn that a girlfriend of T/P can assist him in a refinance of his residence, assume a joint owner role and be obligated to make the mortage payments and then claim the First Time Home Buyer Credit.

    Willing to send the IRS “take” on this if you wish via fax. It involves Notice 2009-12, Section 36 that was added to the Code by Section 3011 of the Housing and Economic Recovery Act of 2008, Pub. L No. 10-289, 122 Stat. 2654, 2888 (2008) and amended to include the current 2009 $8,000 maximum credit provisions.

    Explored it myself…and it’s true…for example, help your boyfriend refi his home, take an ownership interest in it, assume liability as co-borrower for the loan on the residence and qualify for the $6.5 K or the $8K maximum credit as a First Time Home Buyer! Provided, of course, that you haven’t owned a home yourself for the past 3 years or owned and occuplied a home of your own 5 out of the last 8 years either.

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