Documentation for the IRS for First-Time Homebuyer Credit?
Fiance and I closed on our house last week. I am in the process of preparing the following IRS forms:
1. 5405- First-Time Homebuyer Credit
2. 1040X- Amended U.S. Individual Income Tax Return
As nothing else has changed in my return for 2008, is there anything else I should include when I send this to the IRS? Might they need some proof that we really bought the home? How do they know?
- garyg7Lv 71 decade agoBest Answer
In addition to the forms you mention, you should send a copy of the HUD-1 (the closing statement).
The IRS is taking 12-16 weeks to process the amended returns. You can't e-file the amended return and refunds are only paid by check.
I hope this helps.
- ninasgrammaLv 71 decade ago
It may speed up your refund if you include copies of the closing "HUD" documents, those legal sheets with the amounts related to the purchase.
- santellanLv 43 years ago
you do no longer e-record. you need to record a paper return by using mail. You connect a duplicate of the contract assertion (regularly a HUD-a million style) to style 5405. enable 6 to ten weeks for processing.