Anyone else file for First time buyer credit?

[jctx]

Originally Posted by msina

It was an amended 1040A,........ She did a short form and filed the amendment, she's going to claim her closing costs on next years form.

Is there an option to claim closing costs before next years? If so, on what form?

[msina]

Originally Posted by jctx

Is there an option to claim closing costs before next years? If so, on what form?

I don't know, call a tax pro and ask!

[LeftCoastee]

FYI - There is a $20,000 income phase out starting at $75,000 sinlge ($150,000 filing jointly). You get nothing if you make more than $95,000 single ($170,000 filing jointly).

[SadieLu]

Originally Posted by bonita23

I just heard that you are entitled to the first time credit if you have not bought or sold a house in 3 years. Is this correct?

Well, not really. It's more like "bought, sold OR OWNED" in the last 3 years!

[nvrdun]

So if I close on 8 May 2009, I can file an amendment to my 2008 taxes? I was under the belief that I had to wait until next year and file my first time home buyer credit with my 2009 taxes. Can anyone clarify this?

[novahousehunter]

Originally Posted by nvrdun

So if I close on 8 May 2009, I can file an amendment to my 2008 taxes? I was under the belief that I had to wait until next year and file my first time home buyer credit with my 2009 taxes. Can anyone clarify this?

You can treat it as though it closed on 12/31/08 and file an amendment on your 2008 returns:

Federal Housing Tax Credit for First-Time Home Buyers: Frequently Asked Questions (http://www.federalhousingtaxcredit.com/2009/faq.php - broken link)

[bigrog23]

has anyone filed amended return for first time homebuyer credit and got refund. And only gross 9,000 for the year

[batmanwcm]

We filed an amendment earlier this month and expect it in July or August.