A homebuyer tax credit Q&A
If you missed the live chat, you can read the questions and his answers here. (He notes that he's still waiting for a decision on whether spouses are eligible for the $6,500 credit if one qualifies as a repeat buyer and the other doesn't.)
Here's one answer that might surprise you:
Nicole: My husband and I bought a house in June '09 together. Both of our names are on the deed. As of right now, we don't qualify for the home buyer tax credit due to joint income limitations. If we file married separate, his stand alone income qualifies for tax credit. Can we do this?
Jim Dupree: Yes you can, Nicole, but bear in mind that married persons filing separate returns only qualify for half of the maximum credit amount.