For first-time homebuyers that purchased their home in 2009 and are seeking the $8,000 First-Time Homebuyer Tax Credit, the IRS has provided Form 5405, found at http://www.irs.gov/pub/irs-pdf/f5405.pdf.  Form 5405 must be filled out and submitted with the home buyer’s tax return, provided the first-time homebuyer has met the eligibility requirements for the First-Time Homebuyer Tax Credit.  The eligibility requirements can be found on Form 5405 and have been addressed previously on the Ritter & Randolph blog at http://ritterandrandolph.com/blog/category/taxes/tax-credits/.  If the first-time homebuyer purchased his/her home in 2009, but wishes to apply the tax credit to her 2008 taxes, he/she must file Form 5405 with her amended 2008 tax return. 

For additional information, and answers to frequently asked questions regarding the Homebuyer Tax Credit, see the IRS website at http://www.irs.gov/newsroom/article/0,,id=204671,00.html .

The attorneys and staff at Ritter & Randolph, LLC are experienced in representing and addressing the tax needs of their clients as well as preparing tax returns.