First time home buyer tax credit for couples where only one person is a first time home buyer?

Question

I purchased our current home before me and my wife got married. I am the only owner of the home. If we were to move and both buy a new home, would we receive the tax credit because my wife is a first time home buyer?

Answer 1

No...according to a synopsis of the legislation, both parties must be first-time home buyers to take advantage of the tax credit.  See here for more info

http://www.federalhousingtaxcredit.com/f...

Answer 2

Both the taxpayer and the spouse must qualify as first time home buyers.  If for example the spouse really only owned a vacation home not a full time personal residence they will still qualify.