First Time Homebuyer Credit (first time home buyer, closing, taxes)

[cntams]

Hi all,
I just bought a house in NJ and closed last week. As a first time home buyer, I would be able to claim the $8k credit. Now I would want to know if I can file it along with the 2009 tax return or I will have to wait until next year?

Thanks,

[joe moving]

I am guessing you claim it in the year you bought the house. i did not look this up though.

check First-Time Homebuyer Credit ???

[blackandproud]

Originally Posted by cntams

Hi all,
I just bought a house in NJ and closed last week. As a first time home buyer, I would be able to claim the $8k credit. Now I would want to know if I can file it along with the 2009 tax return or I will have to wait until next year?

Thanks,

You can either file it with your 2009 tax returns or you can file it with your 2010. If you file it with your 2009 taxes, you will have to mail them (expected time to recieve is 6-8+ weeks) Or you can e-file your regular taxes, wait for them to come back, then amend your 2009 taxes to claim the homebuyers credit (expected time to receive 12 weeks).

Good Luck and Congratulations.

[nemmert]

Originally Posted by blackandproud

You can either file it with your 2009 tax returns or you can file it with your 2010. If you file it with your 2009 taxes, you will have to mail them (expected time to recieve is 6-8+ weeks) Or you can e-file your regular taxes, wait for them to come back, then amend your 2009 taxes to claim the homebuyers credit (expected time to receive 12 weeks).

Good Luck and Congratulations.

Yep, she nailed it... I just closed on a home Feb 1st and when I was doing my taxes in mid-January the program accepted the home buyer credit even in advance of the date. But you will need to file by mail and include proof of the purchase like your HUD closing form or your CO.