First time home credit

[cheesecake46580]

What is the name of your state (only U.S. law)? IN
We are finalizing the paper work on our first home just in time to get the credit. Ok I know we are paying 52,000 for the home we will get 5,000 back for the credit. I know we have to amend the return to get this money. The question is we are not married and we each filed a tax return so dose it matter who's we ammend or what would we have to do to get the credit. each of us are on the loan?

 

[FlyingRon]

You can amend and take the credit against the 2008 or 2009 taxes if you want or you can just file for it on this years taxes (you may wish to reduce your withholding in anticipation of the lower tax liability this year if you do). You are correct, it matters not who takes files for (you can even split it) as long as you don't exceed the (in this case) 5,200 you are eligible for. The only sticky thing would be if it is possible that you'd bump in to the income limits as a married couple.