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Post by cheno on Jan 5, 2011 15:01:41 GMT -5
I have a client, that her and her husband lived in the house next door to his parents. The oarents owned the house. The husband is killed in an auto accident. 1 year later she has purchased the home for deceased husbands parents. WIll they still be comnsidered as a relative and disqualify her for FTHC.
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Post by commentator on Jan 5, 2011 20:18:32 GMT -5
My interpretation of IRC Section 36(c)(5) is that related persons include relatives of the taxpayer's spouse at the time of the purchase. At the time of your client's purchase, she had no spouse, therefore she has no spouse's relatives to worry about.
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TheOtherMe
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Post by TheOtherMe on Jan 5, 2011 21:56:16 GMT -5
When did she purchase the home? Dates will determine if credit can be claimed.
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