money/family conflict.

548
10
Joined Jan 20, 2008
I recently bought a house with my brother in law and his step mom after they lost their house. I got an $8000 first time home buyer credit. I was gonna keepit to my self but recently bro in law went thru my mail and saw a letter and asked my wife about it. She said she didnt know anything about it. I told her thatI was gonna keep it to myself because A. Im the first time home buyer not them. B. Im wasting all the first time buyer perks on buying this house for them andIm not gonna get them when I try to buy a house for my own family. Sure he pays half the house but thats all he gets half the house not half my taxes.

NT, am I right or wrong?
 
11,922
817
Joined Feb 12, 2003
You did wrong by getting involved on this in the first place.

You should have told them what you were going to do, and if they didn't like it, they could find other ways to get a house.

Who is on the title of the house?

The credit is just going to lower your taxable amount...in a lot of cases leading to a refund...can you just throw him a few bucks to tell him to chill?

Is it on this years tax form or next?
 
420
17
Joined Jan 23, 2005
A. What was he doing in your mail. Illegal?

B. You sound justified in keeping it. It probably would have been a good idea to bring it up to your wife and her family somehow. Aknowledge you may have amistake by withholding the info, but be firm on your choice to keep the money to yourself. Your reasons are justified.
 
548
10
Joined Jan 20, 2008
Originally Posted by maxi320

A. What was he doing in your mail. Illegal?

B. You sound justified in keeping it. It probably would have been a good idea to bring it up to your wife and her family somehow. Aknowledge you may have a mistake by withholding the info, but be firm on your choice to keep the money to yourself. Your reasons are justified.
Thats what Im tripping about, he didnt open it, it was by the computer already opened but it had my name on it and he shouldnt be reading it.
 
548
10
Joined Jan 20, 2008
Originally Posted by LazyJ10

You did wrong by getting involved on this in the first place.

You should have told them what you were going to do, and if they didn't like it, they could find other ways to get a house.

Who is on the title of the house?

The credit is just going to lower your taxable amount...in a lot of cases leading to a refund...can you just throw him a few bucks to tell him to chill?

Is it on this years tax form or next?
My mom and I are on both title and loan because she cosigned. Its on this years because I re did my taxes to get that money. I already know I didwrong by getting involved, I was living the life in that basement, and I had more privacy.
 
11,922
817
Joined Feb 12, 2003
Well, he can be mad at you...since you're on title, he won't really have any form of recourse.

Just throw him like $500 and tell him to let go.

Depending how much your refund is/was.
 
1,035
10
Joined Feb 23, 2006
if youre not doing anything wrong you should be able to explain it to him
 
548
10
Joined Jan 20, 2008
$8000 which is weird because I thought it was only a credit but It was also the ammount of the refund.
 
11,922
817
Joined Feb 12, 2003
Just means you were probably at a refund prior to application of the tax credit, so you got the full amount of the credit applied a refund? That's my guessoff the top of my head.
 
2,141
30
Joined Mar 2, 2009
Sounds legit in you keeping the money, it's your credit. He shouldn't be looking through your mail either lol.
 
548
10
Joined Jan 20, 2008
Originally Posted by LazyJ10

Just means you were probably at a refund prior to application of the tax credit, so you got the full amount of the credit applied a refund? That's my guess off the top of my head.
Yeah, but prior to be redoing my taxes I had received a refund of about $5000. I dont do my own taxes so if anything is wrong its on them.
 
458
11
Joined Nov 30, 2007
Originally Posted by maxi320

A. What was he doing in your mail. Illegal?

B. You sound justified in keeping it. It probably would have been a good idea to bring it up to your wife and her family somehow. Aknowledge you may have a mistake by withholding the info, but be firm on your choice to keep the money to yourself. Your reasons are justified.
basically what he said ........ also a lot of this bears on how long you've known about this and kept it from your wife .... if it's been a min .....then as wrong as it seems you might have to split it just to be diplomatic .... but if we talking about a couple of days, then sit her down, explain your pointof view and again to be diplomatic slide maybe a G their way........
 
548
10
Joined Jan 20, 2008
Its been about a day or two, we both knew we were going to get something but we both tought it was going to be nothing more than $2000. The letter he read camein friday and it said something about getting a refund in about a week or two. Today I got the check and I told my girl about it just havent told the brotherin law about it.
 
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