here is the scenario…. couple [A] buys a house for 0,000 but they couldnt afford that much so another couple-B [ family ] contributed toward the purchase,but will not live there….each couple contributed 5,000.. the title to the home lists each couple as owning 50% of the home..couple-A took out a home equity loan on their previous house + savings to come up with their 5,000… there previous house sold about 2 months later and the home equity loan was paid off at that time for the previous house that they occupied for several years…..now tax time is here and there is a question as to whether couple A qualifies for the homebuyers tax credit…there tax preparer says they do because they occupy the new house and the old house that they lived in for several years sold shortly after buying the new house,,so that there is no question about there actually occupying the new house…………..the question is this…..does couple A qualify fully for the homebuyers tax credit [ not 1st time credit of 00,,just the regular credit of 00 ] ?? or do they only qualify for 1/2 of that credit since they only own 1/2 of the new house??..or do they NOT qualify because of only owning 1/2 of the house??..the other question is this…..IF couple A does qualify fully for the 00 tax credit,,should couple A give 1/2 of that to couple B ??…couple B thinks they should get 1/2 of couple A’s 00 tax refund [ if it goes through],,,couple A isnt sure what the right thing to do is…..obviously couple B doesnt qualify for a tax credit on there own taxes because they will continue to live at their own house,,they will not be occupying the new house at all…….couple A likely will buy out couple B’s 1/2 of the new house in a few years for 1/2 of the appraised value at that time….couple B doesnt claim any legal right to the money,,they just think they should be given 1/2 of the 00 because they purchased 1/2 of the new house that couple A could not otherwise have afforded…any opinions???

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