1st Time Buyer Tax Credit with a Co-Signer on the Loan?

Someone asked me if a first time buyer could get the federal tax credit if they had a parent co-sign for them on the mortgage. I dug around on the IRS website and found just this scenario in the Q&A section.
This scenario came for the IRS website:

“S2. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?

Yes. Taxpayer B is not a first-time home buyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A's primary residence.”

Visit the IRS link I have provided for more answers to your tax credit questions.