SimonBones 1 #1 May 14, 2009 If anyone out there is bored of trying to get other posters to post blurry, grainy, half naked photos of each other, maybe you can help me out. I'm buying a house and closing on it next week. I qualify for the first time homebuyer credit of $8,000. From this point I'm not sure how to get it. I've printed out IRS form 5405 and it seems I'm supposed to file this with my 2008 taxes. I've already filed my 2008 taxes and got a return. So does this have to be an ammendment to my 2008 taxes? If so how do I do that? Or can I just mail the form in to somebody somewhere and eventually a check will come? Anyone out there done this yet?108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites
JENNR8R 0 #2 May 14, 2009 Would the following answer to a similar question apply to you? ***I purchased a home in early 2009 and have already filed to receive the $7,500 tax credit on my 2008 tax returns. How can I claim the new $8,000 tax credit instead? QuoteHome buyers in this situation may file an amended 2008 tax return with a 1040X form. You should consult with a tax advisor to ensure you file this return properly.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites SimonBones 1 #3 May 14, 2009 Hmm.. No, I did not do the 2008 $7,500 thing. That one and the 2009 $8,000 credit are two different programs. The one from last year had to be repaid. This year it's just free money. Sweet sweet government hand outs!108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites leon.hill 1 #4 May 14, 2009 Ask your tax preparer. We are going to purchase a house in the coming months as well. You can file an amendment for your 2008 taxes and get it sooner, or file it along with your '09 taxes and get it then. But remember, you have to have purchased it by December 1st of this year to qualify. Quote Share this post Link to post Share on other sites JENNR8R 0 #5 May 14, 2009 QuoteHmm.. No, I did not do the 2008 $7,500 thing. That one and the 2009 $8,000 credit are two different programs. The one from last year had to be repaid. This year it's just free money. Sweet sweet government hand outs! What I thought was similar is that the house was bought in 2009 and the 2008 tax return had already been filed. I would think that doing an amended return would suffice... but to be sure, ask a tax preparer. Nothing about preparing taxes is simple.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites SimonBones 1 #6 May 14, 2009 Ick, I've never used a tax preparer, I've always just TurboTaxed it. I wonder if I can amend using TurboTax and if this 5405 tax form is in their system. Why do they have to make it all complicated?108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites JENNR8R 0 #7 May 14, 2009 Why do they have to make it all complicated? This is our Federal Government that we're talking about... you know, the folks who brought us tax simplification? What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites NWFlyer 2 #8 May 14, 2009 Quote Ick, I've never used a tax preparer, I've always just TurboTaxed it. I wonder if I can amend using TurboTax and if this 5405 tax form is in their system. Why do they have to make it all complicated? http://turbotax.intuit.com/tax-tools/tax-tips/irs-tax-return/5627.html http://turbotax.intuit.com/support/kb/e-file/ef-status/7378.html The internet knows all. "There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences." -P.J. O'Rourke Quote Share this post Link to post Share on other sites doug925 0 #9 May 14, 2009 Simon, I could be wrong, but if you have not closed yet, then you qualify for the 2009 tax year refund of $8000. We just closed about a month ago, and that is the case for us.Doug. I have never developed indigestion from eating my words. Winston Churchill Quote Share this post Link to post Share on other sites SimonBones 1 #10 May 14, 2009 So in order to get the $8K, 1) The last tax return must be amended to include the 5405 page. 2)In order to amend, a 1040x form must be filled out to do so. 3) The 1040x can not be done electronically. One must print it out and mail it in. I guess I have to wait until I close next week in order to do it all. Thanks for the helpful responses, if (when) more questions come up, I'll definitely throw them out here. You may now return to trying to get other posters to post blurry, grainy, half naked photos of each other 108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0
SimonBones 1 #3 May 14, 2009 Hmm.. No, I did not do the 2008 $7,500 thing. That one and the 2009 $8,000 credit are two different programs. The one from last year had to be repaid. This year it's just free money. Sweet sweet government hand outs!108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites
leon.hill 1 #4 May 14, 2009 Ask your tax preparer. We are going to purchase a house in the coming months as well. You can file an amendment for your 2008 taxes and get it sooner, or file it along with your '09 taxes and get it then. But remember, you have to have purchased it by December 1st of this year to qualify. Quote Share this post Link to post Share on other sites
JENNR8R 0 #5 May 14, 2009 QuoteHmm.. No, I did not do the 2008 $7,500 thing. That one and the 2009 $8,000 credit are two different programs. The one from last year had to be repaid. This year it's just free money. Sweet sweet government hand outs! What I thought was similar is that the house was bought in 2009 and the 2008 tax return had already been filed. I would think that doing an amended return would suffice... but to be sure, ask a tax preparer. Nothing about preparing taxes is simple.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites
SimonBones 1 #6 May 14, 2009 Ick, I've never used a tax preparer, I've always just TurboTaxed it. I wonder if I can amend using TurboTax and if this 5405 tax form is in their system. Why do they have to make it all complicated?108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites
JENNR8R 0 #7 May 14, 2009 Why do they have to make it all complicated? This is our Federal Government that we're talking about... you know, the folks who brought us tax simplification? What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites
NWFlyer 2 #8 May 14, 2009 Quote Ick, I've never used a tax preparer, I've always just TurboTaxed it. I wonder if I can amend using TurboTax and if this 5405 tax form is in their system. Why do they have to make it all complicated? http://turbotax.intuit.com/tax-tools/tax-tips/irs-tax-return/5627.html http://turbotax.intuit.com/support/kb/e-file/ef-status/7378.html The internet knows all. "There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences." -P.J. O'Rourke Quote Share this post Link to post Share on other sites
doug925 0 #9 May 14, 2009 Simon, I could be wrong, but if you have not closed yet, then you qualify for the 2009 tax year refund of $8000. We just closed about a month ago, and that is the case for us.Doug. I have never developed indigestion from eating my words. Winston Churchill Quote Share this post Link to post Share on other sites
SimonBones 1 #10 May 14, 2009 So in order to get the $8K, 1) The last tax return must be amended to include the 5405 page. 2)In order to amend, a 1040x form must be filled out to do so. 3) The 1040x can not be done electronically. One must print it out and mail it in. I guess I have to wait until I close next week in order to do it all. Thanks for the helpful responses, if (when) more questions come up, I'll definitely throw them out here. You may now return to trying to get other posters to post blurry, grainy, half naked photos of each other 108 way head down world record!!! http://www.simonbones.com Hit me up on Facebook Quote Share this post Link to post Share on other sites
