Questions about Joint Tax return for newlyweds

[FortLaudy 10]

My husband and I got married Sep '09, so we'll be filing jointly as married in April since by then I should have a SSN etc.

My questions are:

Can we qualify for "First-Time Home Buyer Tax Credit" ?

My husband owns two properties, neither are our principal residence, they're both rental properties. We are currently renting as we're looking to buy a place together here near my college and the lovely dogpark and his work :-) His two houses are 1. In a different state, 2. Too far from college for me and work for him. I understand because he owns properties that we may be disqualified, but because we're going to be buying a house together that will be our primary residence I'm wondering how this might apply to us...

I found this in small print:

"Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer."

Is there a certain number of days/months/years we had to be married during 2009 before being able to file jointly in April 2010? I don't think so but my husband mentioned something like that and we're boths still a little clueless on this whole subject.

I understand have to declare "worldwide income", I have not earned income in the USA but neither abroad, my tuition and living expenses have either come from an investment account back home or my husband's wallet ;-)... Do I declare only the interest earned on the investment account or the full amount that I have in that account, or the amount that I have brought over during 2009 or that plus the amount that I want to bring over during 2009/early 2010 as we need to as part of the downpayment for the new house? Please anyone with some answers?

[FortLaudy 10]

Found the answer to my question about first time home buyers credit :-( for anyone else with the same question...

http://www.irs.gov/newsroom/article/0,,id=206294,00.html

S4. If husband and wife wanted to sell the home that the husband owned when they got married, and the wife had not owned a home within the past three years, could she qualify as a first-time homebuyer for the credit even though the husband would not qualify?

A. No. The purchase date determines whether a taxpayer is a first-time homebuyer. Since the husband had ownership interest in a principal residence within the prior three years, neither taxpayer may take the first-time homebuyer credit. Section 36©(1) of the Internal Revenue Code requires that the taxpayer and the taxpayer's spouse not have an ownership interest in a principal residence within the prior three years from the date of purchase. The husband may not take the credit even if he filed on a separate return.

S3. A taxpayer owned her principal residence. Several years ago, she decided to relocate to a rented apartment, but did not sell the former residence. Instead, she rented it out to tenants. Now the taxpayer plans to buy another house and make it her new principal residence. Does she qualify for the first-time homebuyer credit?

A. A taxpayer who owned rental property within the past three years is still eligible for the credit. The taxpayer cannot have owned and used a home as his or her principal residence within the last three years.

[rin and john 71]

With regards to being able to file jointly for TY 2009, you have to be married as of December 31, 2009. One day is enough, but it has to be December 31st! (except in the case of death of a spouse)