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

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Posted by Happyboucher

Member since Sep 2007

456 posts

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.

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Posted by Newbomb Turk

perfectanschlagen

Member since May 2008

9961 posts

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

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Posted by Martavius

Member since Nov 2005

16019 posts

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.

This post was edited on 2/5/10 at 10:42 am

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