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If you have any questions or need more detailed information, please feel free to contact me via phone at 617.232.4186 or fill out the form to let us know how we can help with your real estate needs.

Office Location 77 Pond Avenue,
Brookline, MA
Phone: (617) 232-4186
Fax: (617) 232-7954

IRS Issues Revised Form to Claim Home Buyer Tax Credit

Posted by Nancy Comenitz on Thursday, February 11th, 2010 at 1:35pm.

The Internal Revenue Service has issued IR-2010-6, which provides a revised Form 5405 to reflect the changes to the home buyer tax credit approved last November as part of legislation to extend and expand the tax credit. The release reminds taxpayers that those claiming the credit cannot use the IRS E-File automatic system, and instead must file their returns manually.

The revised form includes a section for repeat buyers who are eligible to claim the $6,500 tax credit. The HUD-1 form or other evidence of the transaction must be filed with all returns claiming the credit (both the $8,000 and $6,500 credits).  Individuals who claim the repeat buyer credit must also provide evidence that they have owned and used the prior residence for five consecutive years. The form indicates that property tax or homeowners insurance records are sufficient for this purpose. For more information, including important facts about the home buyer tax credit and instructions for completing Form 5405, visit the IRS website

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