I have heard that here in Kansas City there have been a couple of instances where accountants have been telling their first time home buyers that they cannot apply for the $8000.00 tax credit until 2009.

THAT is NOT TRUE! 

 I have a copy of the blank 1040.  Go to page 2, under line #69 where it says attach form 5405.  I also have also a copy of form 5405 that you will need.  You can look at  "C" at the top.  You can claim it now if purchased in 2009.  If they purchase in July, 2009, they can file an amended return and get their $8000 immediately.

However, the drawback is that the EZ form which most of them would file does not accommodate this so they will have to file the regular 1040.

I would be willing to share these forms with whomever wants them.......... just email me at franwhite@kc.rr.com........... in the subject line put TAX FORMS and I'll send them to you as PDF file you can print out.

And if you know someone who is wanting to buy, NOW is the time to do it.....if they are looking in the Kansas City North area, have them give me a call  816-682-3897

Until next time.......

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Fran White, REALTOR®
Reece and Nichols Residential
816-682-3897
www.kansascity-realestate.net
www.franwhite.reeceandnichols.com

 

6 Comments on First Time Home Buyer $8,000.00 Tax Credit Tax Forms

MAR
16
5 Featured Posts Localism Sponsor

I thought this to be tremendously important...... if you can get it this year you should!

9:42pm • #1
Localism Sponsor Hit Router

Fran, this is very helpful information for buyers. Thank you for sharing.

10:46pm • #2
5 Featured Posts Localism Sponsor

Hey Maria.....

Glad you found it helpful......thanks for stopping by!

 

Fran

11:15pm • #3
5 Featured Posts Localism Sponsor

Hey Maria.....

Glad you found it helpful......thanks for stopping by!

 

Fran

11:15pm • #4
MAR
17
467,624 Points 54 Featured Posts Outside Blog

Fran there is a lot of false information out there about the Tax Credit, and it is amazing that Accounts are not more up on this then what they are.  I had one tell my Borrower that they could not take the $7,500 Tax Credit for a house they bought last year with a FHA Loan.

4:00pm • #5
5 Featured Posts Localism Sponsor

Oh ..... isn't that great.  You know that amazes me George... it's "their job" to know all the changes in the tax laws and be up to par about everything tax related.

 

Hope this helps some of your customers.

 

Later

5:04pm • #6

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Kansas City North Real Estate :: Fran White 816-682-3897

Kansas City North, MO

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North Kansas City Real Estate, Reece and Nichols Residential

Address: 260 NE Barry Rd, Kansas City, MO, 64155

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