The Federal Tax Credits Blog

Question: I need help with first time home buyer tax credit. Quick Question. Can you help me?!?

We just purchased our home and need to amend our 2008 taxes.

I went to the IRS website and printed the 1040x and the 5405 (first time homebuyer credit).

On the 1040x-line 15 is what I need amended correct?
And what would I put in the three boxes next to it? A.B. and C? Sorry, I so dont understand tax talk

So if I just mail these in, say tomorrow. I would receive a refund of 8000 back, like within a couple months or however long it takes?

Thanks Everyone!

Answer: Allow 12-16 weeks.

Start at line 10. On line 15, for the full credit, $0, $8000, $8000.

While the form doesn’t ask for the closing papers, attach them. So many fraudulent 1040x returns are showing up that the IRS had to stress audit issues. If selected, the IRS will spend a week mailing you a letter to fax in the closing statement. By attaching the papers to your return, you would save a week.

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