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Question about First Time Home Buyer Tax Credit

Posted on 7/19/09 at 6:37 pm
Posted by LSUZombie
A Cemetery Near You
Member since Apr 2008
29630 posts
Posted on 7/19/09 at 6:37 pm
I bought a home in June and I have my paperwork filled out to get my $8,000 credit. Where do i mail it? i have been looking on the IRS website but can't get a straight forward answer. Thanks!
Posted by BrockLanders
By Appointment Only
Member since Sep 2008
6517 posts
Posted on 7/19/09 at 6:47 pm to

Don't you need to amend this to your 2008 tax return??
Posted by LSUZombie
A Cemetery Near You
Member since Apr 2008
29630 posts
Posted on 7/19/09 at 6:50 pm to
quote:

Don't you need to amend this to your 2008 tax return??


yeah. i did that. i filled out two forms (1040X and 5405). I've been looking on the IRS site and i was told by someone i had to mail it to texas.
This post was edited on 7/19/09 at 6:51 pm
Posted by BrockLanders
By Appointment Only
Member since Sep 2008
6517 posts
Posted on 7/19/09 at 6:51 pm to

Sorry...if you just bought last month, it seems like you'd have to wait until you do your 2009 return...right??
Posted by lsulexus
NO
Member since Sep 2007
525 posts
Posted on 7/19/09 at 7:26 pm to
You can amend your 2008 1040 to receive the credit. Depending on where you live the 1040X with atachments are sent to different IRS centers.

Go to IRS.gov, and in the search box put 'where to file". They cover everything there.
Posted by LSUZombie
A Cemetery Near You
Member since Apr 2008
29630 posts
Posted on 7/19/09 at 7:31 pm to
quote:

You can amend your 2008 1040 to receive the credit. Depending on where you live the 1040X with atachments are sent to different IRS centers.

Go to IRS.gov, and in the search box put 'where to file". They cover everything there


awesome. will try that!

thanks for the help guys
Posted by BleedsPurpleandGold
Tiger Land
Member since Oct 2005
295 posts
Posted on 7/19/09 at 9:49 pm to
About to do mine also we close this week. All I have to do is log onto turbo tax an admend mine.
Posted by HurricaneDunc
Houston
Member since Nov 2008
10472 posts
Posted on 7/19/09 at 9:53 pm to
Does anyone think they'll extend this to next year?
Posted by silstang23
Bossier City, LA
Member since Oct 2007
4961 posts
Posted on 7/19/09 at 10:01 pm to
I've heard rumors about extending but they are just that...rumors. Also increasing the amount above 8,000. There's no telling though.
Posted by SpidermanTUba
my house
Member since May 2004
36132 posts
Posted on 7/19/09 at 10:58 pm to
LINK

it says "for extensions" but the "no payment included" address for whatever state you're in is what you want.

CHA CHING!!!!

$$$$$$$$$$$$$$$$$$
This post was edited on 7/19/09 at 10:59 pm
Posted by shel311
McKinney, Texas
Member since Aug 2004
112671 posts
Posted on 7/20/09 at 12:49 am to
quote:

I've heard rumors about extending but they are just that...rumors. Also increasing the amount above 8,000. There's no telling though


Same here. I've been hearing about extending it to December of 2010 and making it $15,000.

Anybody know anything regarding this? Are they strictly rumors? Any possible truth to it?
Posted by BehindtheWoodshed
Louisiana
Member since Sep 2007
2442 posts
Posted on 7/20/09 at 2:52 am to
I'm interested in the extention too. What if you are building your own home? We're starting construction this year but won't finish til next. What's the deal on that scenario?
Posted by uscpuke
Member since Jan 2004
6239 posts
Posted on 7/20/09 at 7:33 am to
The first time home buyer tax credit is a pretty interesting idea around these parts.
Many posters are for less government with a emphasis on fewer taxes and keeping more of ones own income.

But this tax credit is considered welfare in many posters eyes. Keeping more of your own income is now welfare
Posted by yellowfin
Coastal Bar
Member since May 2006
98795 posts
Posted on 7/20/09 at 7:48 am to
quote:

Same here. I've been hearing about extending it to December of 2010 and making it $15,000.

I've also heard they might lift the income restrictions which would be awesome, but they're all rumors right now.

ETA: I mean awesome for me not our country.
This post was edited on 7/20/09 at 7:50 am
Posted by LSURussian
Member since Feb 2005
133904 posts
Posted on 7/20/09 at 7:53 am to
quote:

I mean awesome for me not our country.


Posted by AUFanInSoCal
Orange County
Member since Nov 2007
1616 posts
Posted on 7/20/09 at 6:45 pm to
I'm hoping we get the rational home buyer tax credit.

You know, buying what you can afford, reasonable down payment and 30 year fixed loan. I'm sure it's in the pipeline. Should be around 40k I think.
Posted by Newbomb Turk
perfectanschlagen
Member since May 2008
9961 posts
Posted on 7/21/09 at 7:32 am to
Here ya go -

Here's the 1040X Instructions from the IRS website -

1040X Instructions

See page 3 in right column ("Where to File").
This post was edited on 7/21/09 at 7:34 am
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