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re: Using Turbo Tax and.....
Posted on 2/5/10 at 10:27 am to Newbomb Turk
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.
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