Comments on: A Potential Solution to the “Marriage Penalty” in the Home Buyer Tax Credit

By: Brett

Brett — Sun, 28 Feb 2010 18:00:56 +0000

I’ve owned my home for more than five years and would have qualified for the $6500 credit. My wife has never owned a home and therefore would have qualified for the $8000 credit.

We got married four months ago so, oops, we qualify for neither thanks to the so-called marriage penalty.

Thanks for the wedding gift, Congress.

By: Joseph Rand

Joseph Rand — Sun, 14 Feb 2010 17:00:00 +0000

Hi @Sameer, thanks for posting. I’m sorry that you find yourself in this position. Hopefully, Congress will revisit the law and give you the tax credit that you clearly should be getting.

By: Sameer

Sameer — Fri, 12 Feb 2010 15:50:16 +0000

I am in the same situation as everyone else. I have owned my condo for 8 years. I recently married last year. My spouse and I decided because of the tax credit, this is a good incentive for us to purchase a home. Our closing is in the end of April. Since my spouse would be a first time homebuyer and I would fall under the long-time homebuyer, I did some research which credit would apply for our taxes. I rudely found out that we would negate each other. Way to promote marriage. You would think someone at the IRS would have some sense and realize the negative effects it would have on thousand of couples buy a new home. Thanks for fighting for us. I have written to my senator and representative.

By: Lisa C.

Lisa C. — Wed, 10 Feb 2010 13:23:19 +0000

This is a great blog. My husband and I married almost 2 years ago. He has not owned a home in 5 years. I have owned my condo for the last 5 years. We would like to be considered for at least one of the tax credits but we cancel each other out. Hopefully an official modification will be made since we have only 80 days until the deadline. Unless, however, they decide to extend the deadline just for the couples affected by the “marriage penalty”.

By: Krissy

Krissy — Mon, 08 Feb 2010 22:42:46 +0000

We sound like so many of your other responders. I qualify for the new homebuyer and my husband for the long time homebuyer. We married 1-1/2 years ago and that is when I moved in. We have brought our frustration to MANY people and am glad to see that you are providing a voice for us with Congress. Thank you so much!

By: Kevin

Kevin — Sat, 06 Feb 2010 00:51:41 +0000

My wife and I are in the same boat. We just married last July, I have been in this house for 12 years. What bothers us the most is now knowing if we would have put off the wedding another year we would have had our choice of credits. Just once I wish this country would encourage marriage and not penalize. Not to mention the funds we spend on our current home getting it ready for sale. Our search and hopes just came to an abrupt halt, as without the credit it seems wiser to wait until after April now. So much for our goal of a new house and a small stimulation for the economy!

By: Joseph Rand

Joseph Rand — Fri, 05 Feb 2010 22:52:20 +0000

Hi @Blake, thanks for posting. Crazy that you can’t get the tax credit. And my advice, although this is a little outside my field, is that flowers would make a nice gift when your wife sees your post…..

By: Joseph Rand

Joseph Rand — Fri, 05 Feb 2010 22:49:16 +0000

Hi @Marvin, thanks for posting. I have no idea how Congress would deal with retroactivity. I imagine that if the law was changed to fix a technical glitch like this, it would indeed apply retroactively, but that’s just a guess.

By: Marvin

Marvin — Fri, 05 Feb 2010 05:44:50 +0000

Just curious, with my wife and I qualifying for a different tax credit each and thus falling under the “marriage penalty”, what happens if for example just one name appears on the title of our new house? That person couldn’t claim whichever tax credit they’d qualify for on their own? Thanks.

By: Marvin

Marvin — Fri, 05 Feb 2010 05:00:03 +0000

I posted my story not too long ago on another section of this blog. I’m wondering though that IF congress modifies the law and my wife and I become eligible, but AFTER we close (which currently is scheduled for 2/26) would the IRS allow us to retroactively receive the tax credit?