Comments on: When will the IRS recognize the $8000 tax credit for 2009 first time home buyers? http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax IRS Lawyer Tax Fri, 30 Jul 2010 05:19:46 +0000 hourly 1 http://wordpress.org/?v=3.0 By: imisidro http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax/comment-page-1#comment-2766 imisidro Mon, 16 Nov 2009 07:32:33 +0000 http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax#comment-2766 Per the IRS announcement http://www.irs.gov/newsroom/article/0,,id=204672,00.html --------------------------------------------- The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately. --------------------------------------------- Per the IRS announcement http://www.irs.gov/newsroom/article/0,,id=204672,00.html

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The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

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]]> By: golferwhoworks http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax/comment-page-1#comment-2767 golferwhoworks Mon, 16 Nov 2009 07:32:33 +0000 http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax#comment-2767 next year as it is just now signed into law and will only be given out with the 2009 tax filings next year as it is just now signed into law and will only be given out with the 2009 tax filings

]]> By: Wayne Z http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax/comment-page-1#comment-2768 Wayne Z Mon, 16 Nov 2009 07:32:33 +0000 http://irslawyertax.com/when-will-the-irs-recognize-the-8000-tax-credit-for-2009-first-time-home-buyers.irs-tax#comment-2768 The IRS has already updated Form 5405 for the new credit. Unfortunately, the software has not been updated yet. Hopefully, it will be fixed in March sometime. In the meantime, you can file, take the $7500 credit now and then amend your return at a later date and get the additional $500. The IRS has already updated Form 5405 for the new credit.

Unfortunately, the software has not been updated yet. Hopefully, it will be fixed in March sometime.

In the meantime, you can file, take the $7500 credit now and then amend your return at a later date and get the additional $500.

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