General Area in Ravenna>Question Details

Misspest, Home Buyer in Ravenna, OH

how do I go about claiming my 2009 new home buyer tax credit? how do i file for it?

Asked by Misspest, Ravenna, OH Fri Nov 20, 2009

How and when do I have to claim it to?

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When you fill out your 2009 taxes, either by print or software, there is a line on which you can claim the home buyer tax credit. It is really easy, your credit will be returned to you by means of your tax return check. Of course if you owe more than $8000 ( or the amount due to you) for taxes, the money will go to pay your taxes instead of returned to you. Good Luck!
0 votes Thank Flag Link Sat Nov 21, 2009
Misspest

Perhaps this will help....

The Tax Form..Information regarding the 2008 Form 5405,
First-Time Homebuyer Credit
Changes have been made to the first-time homebuyer credit by Public Law
111-92, the Worker, Homeownership, and Business Assistance Act of 2009,
which was enacted on November 6, 2009. As a result, the 2008 Form 5405
can be used only for homes purchased before November 7, 2009, for which
an election is made to claim the credit for 2008. We will soon issue a
December 2009 revision of Form 5405. The December 2009 revision will be
for use for all homes purchased after November 6, 2009 (whether the credit
is claimed for 2008 or for 2009) and for all claims on 2009 returns for
homes purchased any time in 2009.
http://www.irs.gov/pub/irs-pdf/f5405.pdf

I would suggest you may wish to contact your Local Taxpayer Assistance Center, IRS Taxpayer Assistance Centers are your source for personal tax help when you believe your tax issue cannot be handled online or by phone, and you want face-to-face assistance....No appointment is necessary - just walk in.
The IRS is most likely going to provide you with accurate information IMHO.
Here are the Centers in Ohio..http://www.irs.gov/localcontacts/article/0,,id=98322,00.html

Good luck, Dunes
0 votes Thank Flag Link Fri Nov 20, 2009
I would contact your accountant to see what you may need for the state but you will need proof of purchase so make sure you have all copies of your documents from settlement on the property to bring to discuss it with a tax specialist



Sean Dawes
Web Reference: http://www.SeanDawes.com
0 votes Thank Flag Link Fri Nov 20, 2009
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