On December 8 I posted a brief tidbit telling you that the IRS was coming out with a new 5405 form in a few weeks. This is the form that is needed for first-time homebuyers to receive the $8,000 tax credit. Well, as of today, the new form still has not been released. No worries, keep checking this blog --or better yet, subscribe to it. I will post it as soon as it is released!
Below is the IRS' promise and brief explanation:
A new version of Form 5405, First-Time Homebuyer Credit, will be available in the next few weeks. A taxpayer who purchases a home after Nov. 6 must use this new version of the form to claim the credit. Likewise, taxpayers claiming the credit on their 2009 returns, no matter when the house was purchased, must also use the new version of Form 5405. Taxpayers who claim the credit on their 2009 tax return will not be able to file electronically but instead will need to file a paper return.
A taxpayer who purchased a home on or before Nov. 6 and chooses to claim the credit on an original or amended 2008 return may continue to use the current version of Form 5405. (You can get the current version of the form by clicking here)