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Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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I JUST RECENTLY PURCHASED A HOME (CLOSED ON 6/22/10) HOW DO

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I JUST RECENTLY PURCHASED A HOME (CLOSED ON 6/22/10) HOW DO I GO ABOUT FILING FOR THE TAX CREDIT? MY REAL ESTATE LAWYER GAVE ME A FORM (5405) BUT IT STATES 2008. WHAT DO I NEED TO FILL OUT AND RETURN?

Hello JA Customer,

 

The IRS is allowing taxpayers who purchased a home in 2010 to claim an early refund of the homebuyers credit by amending their 2009 returns.

 

You will need to complete both a Form 5405 and a form 1040X to amend your 2009 return. It appears the form 5405 given to you is out of date. You can download the current form from the following link.

 

http://www.irs.gov/pub/irs-pdf/f5405.pdf

 

Once you fill out the Form 5405, then you should also fill out Form 1040X which is an amended filing of your 2009 Form 1040. Submit those two documents to the IRS by mail along with a copy of your HUD-1 settlement papers. Here is a link to the Form 1040X.

 

http://www.irs.gov/pub/irs-pdf/f1040x.pdf

 

 

Amended returns claiming the homebuyers credit are generally taking around 12 weeks to process. Once your return is processed, you will receive your refund.

 

If this was helpful please press the Accept button. It is the only way we receive any credit for helping with these questions.

 

Thank you JA Customer

 

 

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