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Old 07-30-2009, 09:49 AM
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Dennis Coffey is on a distinguished road
Default Injured Spouse Info

Hi all,

I'm hoping this is the most appropriate forum for my tax/finance question:

We filed our taxes 'Married-joint', and expected to receive a refund with 8K First time home Buyer's credit...The very reason we saved for years and rented so we can buy & not be cash-poor after purchase....

The thing is, spouse's student loans are 'offsetting' our refund to the point where we are going to lose 95% of the 8K Credit.

The news is devastating--Does anyone know if the Injured Spouse form will adjust it so that I can recoup the 1st Time Buyer's credit? (PS: I am the only one on the mortgage). Thx!
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Old 08-01-2009, 11:45 AM
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Why not file married - separate?
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Old 08-01-2009, 12:09 PM
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There are many tricky parts to this question.

First, fill out form 8379, Injured Spouse Allocation. That at least gives you a starting point. If you are the only person on the purchase of the house and mortgage, I would think all of the credit would be allocated to you under the credit part.

But there are other calculations. So fill out the form to get the basic calculation and call the IRS. Form is easily found online.

If your wife has negligible income or withholdings or none, it should be pretty easy.


ps Your wife should pay her student loans.
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