$6500 home-buyer tax credit

[disny_luvr]

DH and I moved into a new house in mid-March. We owned our old house for 7 years so we qualify for the $6500 home-buyer tax credit. I was talking to my new neighbor tonight that just moved into the neighborhood and she was telling me that she and her DH are filing the paperwork to receive their tax credit now instead of waiting until next year to file? I didn't even know this was possible. I asked her about the details but she was uncertain and said she'd have to ask her DH since he handles the finances. So my questions are, can I do this (file now and not wait until next year) to get the $6500? If I can, how do I go about filing and what info do I need to provide?

Thanks!

 

[My2BabiesLexis&Dill]

I am no expert on this but as far as I have read you can amend you taxes from this year and add it to it. My brother done this and got his 8000.00 back in 6-8 weeks.

Good luck.

 

[jkcyoung]

Yes, you can definately do it now. Not sure on the details, we just submitted ours but my husband's cousin is an accountant and he does our taxes, so he also handled this for us. As far as I know, he needed the settlement sheet for the new house and proof that we owned our old home for 5 plus years(the tax form gave examples of what was accecptable). Not sure where you find the forms, possibly online. Hope this helps!

 

[lovebuzz]

I am no expert on this but as far as I have read you can amend you taxes from this year and add it to it. My brother done this and got his 8000.00 back in 6-8 weeks.

Good luck.

Yes, this is correct. You just have to amend your taxes.

 

[X and G's mom]

Yes, I did this last year. I amended my taxes and waited 6 - 8 weeks for my check. It is not available electronically, you have to receive a paper check.

 

[katied]

To clarify - you amend your 2009 taxes to reflect the 2010 purchase. I've done this for DSister for her home purchase (in 2009, amending their 2008 taxes).

Easy to do - you need to filed a 1040X (for your amended Form 1040) plus the form to report the homebuyers credit (can't remember the form number, but easy to find on the IRS website). The instructions on the homebuyers credit form are pretty clear.

Good luck.

 

[AmberHeartsDisney]

Yes you can amend you need a copy of your settlement sheet as well.