I need to amend my tax return to reflect buying a house in 2009.?
As long as 10% of the purchase price is at least $8000 and you meet all the criteria, you will be able to receive this amount as a tax refund. So if you have already purchased the home in 2009, you will file an amended income tax return, form 1040X to include the form 5405, first time home buyers credit. If you have not purchased the home yet, but before Dec, 1, 2009, you will file this after you have purchased the home. I have attached a link below to the IRS with all the details of the first time home buyers credit. Also if you use the home as your main home for at least 36 months after purchasing, you will not have to repay the credit amount you have received. I have sent links to the form 1040X along with the instructions. The amendment must be sent, it is unable to be electronically filed. The IRS usually takes up to 12 weeks to issue a refund on an amended tax return. Laura H – H&R Block – Senior Tax Advisor 5 **This advice was prepared based on our understanding of the tax law i
