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Hey,
I got your email id from a forum and was wondering if you could answer
my questions regarding first time home buyer tax credit:
I was on F1 OPT until 10/01/2009, then moved to H1B. I'll be
considered as a resident of US beginning 06/03/2010 (1/3 of 90 days
from 2009 + 153 days from 2010). If I buy a house in my name by April
30, 2010 (closing the deal by 30 May, 2010) can I amend my 2009 tax
returns and still claim $8000 tax credit? Or do I have to wait until I
file 2010 tax returns? Basically the idea is to use $8000 credit
towards the downpayment.
Since I'm on H1B can be be asked to leave the country anytime (for
any reason), there is no guarantee that I'll stay in the house for
three years (I believe this is a constraint to claim the tax credit).
However, my fiancee is on F1 pursuing her PhD and we know for sure
that she is going to be on F1 in the US for another 4 years. Could I
buy a house in my name before getting married to her and later put her
(my wife) name on the property paper as well. This way my wife can
stay in that house and if required I can move to some other sate (not
the one I buy a house in) for work and that house would still be our
primary residence. Is it possible? Also, can that house be put up for
rent in the first 3 years incase we both have to move to some other
state for work?
This makes it more complicated: I've plans for moving back to F1 in
August, 2011 to pursue PhD and I believe this will change my status
from resident alien in 2010 to non-resident alien (exempt individual)
in 2011. Now could this be a problem? Could I be asked to return the
$8000 tax credit considering the constraint that one should live live
in that house (primary residence) for atleast 3 years.
Since I'm on H1B, I'm supposed to report my change of residence to
the USCIS. Currently I'm renting an apartment and USCIS has my current
address. Once I buy a house, in order to claim the credit, I'll have
to use that as my primary residence and will have to notify the USCIS
of my new residence. I'll continue to live in the rental apartment
(because of work) and my fiancee will start living in the newly bought
house. Could this cause any issues?
Since my status will not be changed back to F1 until August, 2011
(approx 211 days), I'll have to file 2010 and 2011 returns as resident
alien. My wife and I could also file it jointly as resident aliens.
However, we'll have to file 2012 returns as non-residents since we
both will be on F1. Could this be a problem? Could I be asked to
return back the credit money because of failure to maintain resident
status in the last (3rd) year?
Kindly let me know.
I got your email id from a forum and was wondering if you could answer
my questions regarding first time home buyer tax credit:
I was on F1 OPT until 10/01/2009, then moved to H1B. I'll be
considered as a resident of US beginning 06/03/2010 (1/3 of 90 days
from 2009 + 153 days from 2010). If I buy a house in my name by April
30, 2010 (closing the deal by 30 May, 2010) can I amend my 2009 tax
returns and still claim $8000 tax credit? Or do I have to wait until I
file 2010 tax returns? Basically the idea is to use $8000 credit
towards the downpayment.
Since I'm on H1B can be be asked to leave the country anytime (for
any reason), there is no guarantee that I'll stay in the house for
three years (I believe this is a constraint to claim the tax credit).
However, my fiancee is on F1 pursuing her PhD and we know for sure
that she is going to be on F1 in the US for another 4 years. Could I
buy a house in my name before getting married to her and later put her
(my wife) name on the property paper as well. This way my wife can
stay in that house and if required I can move to some other sate (not
the one I buy a house in) for work and that house would still be our
primary residence. Is it possible? Also, can that house be put up for
rent in the first 3 years incase we both have to move to some other
state for work?
This makes it more complicated: I've plans for moving back to F1 in
August, 2011 to pursue PhD and I believe this will change my status
from resident alien in 2010 to non-resident alien (exempt individual)
in 2011. Now could this be a problem? Could I be asked to return the
$8000 tax credit considering the constraint that one should live live
in that house (primary residence) for atleast 3 years.
Since I'm on H1B, I'm supposed to report my change of residence to
the USCIS. Currently I'm renting an apartment and USCIS has my current
address. Once I buy a house, in order to claim the credit, I'll have
to use that as my primary residence and will have to notify the USCIS
of my new residence. I'll continue to live in the rental apartment
(because of work) and my fiancee will start living in the newly bought
house. Could this cause any issues?
Since my status will not be changed back to F1 until August, 2011
(approx 211 days), I'll have to file 2010 and 2011 returns as resident
alien. My wife and I could also file it jointly as resident aliens.
However, we'll have to file 2012 returns as non-residents since we
both will be on F1. Could this be a problem? Could I be asked to
return back the credit money because of failure to maintain resident
status in the last (3rd) year?
Kindly let me know.
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