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When will I be able to file my taxes electronically when using the new 5405 form?

April 26, 2017able Business electronically file Finance taxes United

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When will I be able to file my taxes electronically when using the new 5405 form?

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I am in the same boat. I bought a home in January. I just filed electronically yesterday and got the same response. The message I received said they estimated it would be two weeks: ” At this time the IRS is not allowing the new first-time homebuyer credit amount of $8000 to be electronically filed. The IRS does not have an exact date when their systems will be updated however, the IRS is working diligently to update their systems and have given us an estimated timeframe of in the next 2 weeks. You can try to resubmit then or file a paper return. Electronic filing is still a much faster and secure way of filing your taxes. Form 1040- First Time Home Buyer Credit of Form 1040 cannot exceed $4,000 when Married Filing Separate and $8,000 for all other filing status. If First Time Home Buyer Credit on Form 1040 is significant, then the Adjusted Gross Income of Form 1040 cannot exceed $170,000 when Married Filing Joint and $95,000 for all other filing status.