How do I file for the $7,500 tax credit for FTB?

Asked by smartxtai, Bay Area, CA Mon Aug 18, 2008

I'm planning to take advantage of the $7,500 tax credit for first time home buyer but would like to know how I am supposed to file my tax return to reflect for this credit. Also, after the 2 initial years, how do I file my tax return to reflect the $500 annual installment I have to pay?

Thanks,

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Robert Stiles, Agent, Zephyr Cove, NV
Mon Aug 18, 2008
I suggest you consult a tax expert - CPA. Good luck.
0 votes
Phil Del Vec…, Agent, Dallas, TX
Mon Aug 18, 2008
File with your normal income tax return. Check http://www.IRS.gov for the appropriate form. Check the following link for more information: http://www.federalhousingtaxcredit.com.
If you use TurboTax, the software will prompt you to use the proper forms.
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