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IRS Issues Revised Form to Claim Home Buyer Tax Credit
The Internal Revenue Service issued form IR-2010-6, which is to be filed by homeowners who wish to claim the the first time homeowner's tax credit or the repeat buyer's tax credit. This form has to be filed manually.
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Thursday, February 11th, 2010 at 1:35pm.487 Views, 0 Comments.
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…