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Using Turbo Tax and.....
Posted on 2/5/10 at 9:58 am
Posted on 2/5/10 at 9:58 am
claiming the $8k 1st time homebuyer's credit? We usually just use Turbo Tax to file but I think the IRS wants a paper copy of your settlement statement as proof of the purchase, any suggestions?
This post was edited on 2/5/10 at 10:02 am
3
Posted on 2/5/10 at 10:01 am to The Real Keyser Soze
You can still use Turbo Tax & then print the return to mail in w/ the required forms.
Posted on 2/5/10 at 10:02 am to Happyboucher
That's a good idea, just use the software to prepare the return, print it and attach settlement, and mail in paper filing to IRS instead of e-filing as usual. Thanks. I feel stupid.
This post was edited on 2/5/10 at 10:03 am
Posted on 2/5/10 at 10:12 am to The Real Keyser Soze
If you are getting a decent size refund other than the FTHC, you might want to e-file your return without claiming the credit. Then you can file an amended 1040X claiming the refund, and file it manually with your closing statement/HUD1/purchase contract. The IRS is estimating that it will take 12-16 weeks to process the FTHC. And, no one who purchased a house after Nov. 6 was able to file until last week, so, there is going to be a huge backlog of filings. I went to a seminar and the speaker told us that he had spoken with a friend of his at the IRS and she told him that it could take up to 4 or 5 months because of the backlog.
This post was edited on 2/5/10 at 10:14 am
Posted on 2/5/10 at 10:14 am to The Real Keyser Soze
quote:Not to worry.....that's a common feeling around here.
Thanks. I feel stupid.
Posted on 2/5/10 at 10:17 am to Newbomb Turk
Thanks, might try that. When we bought the home we also bought some Energy Star appliances as well (fridge, etc...) Can you only claim certain appliances?
This post was edited on 2/5/10 at 10:19 am
Posted on 2/5/10 at 10:23 am to The Real Keyser Soze
quote:
Can you only claim certain appliances?
As far as I know, not right now. There was a bill in Congress known as "Cash for Calkers" but I don't think it has passed.
Maybe Poodlebrain can elaborate.
Posted on 2/5/10 at 10:27 am to Newbomb Turk
quote:
If you are getting a decent size refund other than the FTHC, you might want to e-file your return without claiming the credit. Then you can file an amended 1040X claiming the refund, and file it manually with your closing statement/HUD1/purchase contract. The IRS is estimating that it will take 12-16 weeks to process the FTHC. And, no one who purchased a house after Nov. 6 was able to file until last week, so, there is going to be a huge backlog of filings. I went to a seminar and the speaker told us that he had spoken with a friend of his at the IRS and she told him that it could take up to 4 or 5 months because of the backlog.
I would go this route. I bought a house at the end of May and filed an amended 2008 return in the first week of June. Didn't get my $8,000 until mid-November.
Posted on 2/5/10 at 10:39 am to The Real Keyser Soze
When you e-file, there is a form you print, sign and mail to the IRS. Many times, there is additional doucmentation you have to mail in with it and if you have to send a copy of the settlement statement you would probably just mail it with that. The form you get by email should tell you what additional documentation is required.
My ex-wife has to complete a form 8332 every year so I can claim the kids and I have to mail this in when I e-file. I'd bet this works the same way.
My ex-wife has to complete a form 8332 every year so I can claim the kids and I have to mail this in when I e-file. I'd bet this works the same way.
This post was edited on 2/5/10 at 10:42 am
Posted on 2/5/10 at 10:40 am to Martavius
Cool, thanks all.
Posted on 2/5/10 at 5:22 pm to The Real Keyser Soze
No. You can not file form 1040 electronically this year if your return includes Form 5405. You must send your entire return through the mail. It's on the instruction of the form.
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