DISQUS

Ryan · 4 months ago

I'm actually working on an amended return now - not for the credit, but because I didn't realize that my itemized deductions were larger than the standard deduction (thanks, one full-time job instead of four part-timers).

Do you also have to file a new 1040 as well with the 1040X form?

Flexo · 4 months ago

Don't file a new 1040, just file the 1040X plus support. If you file a second 1040 it's likely to confuse the IRS.

Matt · 4 months ago

I received my $8000 home buyers credit a couple of weeks ago in direct deposit. It did take quite a while though (over 2 months).

John · 4 months ago

I am jealous, I filed for mine with my regular return before April 15th and am still waiting...They gave me the rest of the return except for the 8k and said it is under review. Still waiting to see why...

Eric @ FPP.COM · 4 months ago

One comment to note from experience with my clients - although the 1040X is a form in and of itself, attaching the "Originally Filed" and "As Amended" applicable portions of the 1040 is very helpful not to confuse Uncle Sam. We stamp everything either Originally Filed or As Amended, but if you don't have a stamp, you can just write in big, bold letters at the top. No need to sign the "as amended" return b/c the 1040X covers the signature and filing requirements.

Great article, Flexo.

Flexo · 4 months ago

Those sounds like good tips, Eric. Thanks for sharing.

Brandon Barkley · 4 months ago

There are actually multiple addresses depending on where you live to mail it:
http://www.irs.gov/file/article/0,,id=109750,00...

Kimberly · 4 months ago

That may not be the correct address to file the 1040X. Page 3 of the instructions list the correct address for mailing, and it depends on which state you live in.

Flexo · 4 months ago

Brandon and Kimberly: You are correct. The address I originally listed was for those filing 1040X to claim hurricane grant relief. I've updated the article by linking to a list of addresses by state.

Robert · 4 months ago

I got the $7500 NHBTC before they changed it to 8000. It also said that it would be deducted over 15 years or something, but now I hear that the 8K is not to be paid back....is that true? Plus is it complicated to file for the $500 I didn't get in the first go round.

Flexo · 4 months ago

That is correct, you do not have to pay the (up to) $8,000 credit back if you qualify. More details are here. File the 1040X to claim the extra credit. It's not difficult, but I'm sure it will take some time to receive the credit.

dp · 4 months ago

Hi, if the irs says they have not received my amended form for the first time house buyer credit, should i submit another amendment. It has been 8 weeks and it doesnt show in their system, should I wait or refile?...please advise. Thank you!

Tasha · 4 months ago

We are filing the 1040X just to claim the 2009 first-time home buyer credit. Do we leave lines 1-14 blank? Also, subtracting line 19 (original overpayment) from line 18 gives us a number less than $2000. Will this affect our getting the full $8000 tax credit? Is there a sample of a completed 1040X reflecting just a claim for the 2009 first-time home buyer credit?

Kimberly · 4 months ago

Tasha - fill in ALL lines! If all you are doing is amending to get the First-Time Homebuyer Credit than Lines 1-14 in column A should be filled in (if you have entries for them - I didn't have something for every single line) and then copied over column C. The only thing in column B is the $8000 on line 15 (which would then also go into line 15, column C). When you fill in ALL these lines it should take into account your original withholding and then your line 20 will be your NEW overpayment. Then you subtract line 10 from line 20 and it should equal $8000 (for line 22).

Kimberly · 3 months ago

Just wanted to let you know that I received my $8000 (plus interest) from my 1040X by mail yesterday. I mailed my amended return around June 25, so I feel the turnaround was very acceptable. Even though our original refund came by direct deposit, this one came by check; I don't know why.

andrea in m.i.a fla · 3 months ago

did you receive a letter stating that you was approved for the $8000.00 and you should receive it in a couple of weeks before you got your check , or did they just send the check without notice?

Kimberly · 3 months ago

I got a letter on July 31 that said I would receive the check on August 3. The check showed up On August 3rd.

Denise · 2 months ago

Kimberly,

I will be closing on a home very soon and would like to know what you included in your amended 2008 tax return to receive your refund so fast. did you enclose the title? Anything else? Thanks in advance.

Iris · 3 months ago

Awesome web site, I have gathered so much information about the $8,000 first time homebuyer, thank you so much for having this site to help us. Thank you, thank you, now I can do this myself following your step by step information on how to fill form 1040X, rather than to pay someone to do it for me, I usually do my taxes online whit TaxAct, I need to save all I can, I just bought a house on 7/28/09 was the closing. Is to bad that we have to wait almost 14-16 weeks to get it though I'm sure most of us need the money right now I know I do, but better something then nothing and later than never. Thank you all for all the advices and suggestions they are very helpful.

joe · 3 months ago

for line 15, if i have an original credit of 165, should the column C be 8,165 with the difference (column B) being 8,000?

Esther · 2 months ago

Did you ever found out the answer to your question? I kind of haave the same question. Thank you

Bobby · 2 months ago

So i bought my home this past March of 2009 and filed my taxes mid April with the $8,000 credit form and the IRS magically lost my refund. I re-sent everything as marked it as "Copy of Prior Submitted Return" accordingly.

I received my initial tax refund via direct deposit, though it was missing the $8,000 home buyer credit, does this typically come after-wards as a standalone check/deposit of some sort? The irs site shows they are still reviewing my refund, but if they sent my initial return minus the home credit I cant imagine what they are reviewing.

Any tips/Insight?

Mona · 2 months ago

Does anyone know if you have to wait until closing to file this amended return? I am closing in less than a month, and read somewhere else that you just need the purchase price and the closing date for form 5405..

Denise · 2 months ago

Mona, you have to close on your purchase FIRST. Then, make a copy of the deed or title which should be in your name, and attach it to your 1040X . I'm not sure what else needs to be filed. Kimberly's post above had great results. Send her a question or two about it. I know , definitely, you have to wait until after you close. Do it right away tough!

Chase Honeycutt · 2 months ago

mona

that is correct, take a look at the form, all you need is an address date and magi

http://www.irs.gov/pub/irs-pdf/f5405.pdf

Clari · 2 months ago

I filed my amended on 9/1 and talked directly with the IRS and they were able to provide me with step by step assistance on how to fill out the 1040x amendment and I asked if there was anything else that I needed to submit with the form other than the 5405 form and he said "no". I was not asked for a copy of the deed or title on the home. It sounds good to attach a copy just in case, but not necessary.

Courtney · 2 months ago

We just sent our ammend off does anyone have a answer as how long it took them to recieve there 8,000 and if so did you send anything extra with your papers....closing papers ect..

Risi · 2 months ago

Hello all,
I follow step by step above on how to fill out the forms and send my ammend back in August and I already received mine last week so it took almost 6 weeks all and all. I thought it was going to be longer. Is a great help and I owe it to this site that help me fill out the form by giving the instruction step by step, thank you, thank you for all the help, and help me save money by doing it myself. Great instruction.

Take care all,
Risi

Flexo · 2 months ago

Risi: Thanks for coming back to the site to let us know how it went. Glad we could help!

Chris · 1 month ago

Wow, I must have gotten the slowest processer on the payroll. I filed my 1040x on May 26th. I received a letter the end of July asking for a copy of my HUD statement. I sent it that day and the IRS acknowledged receipt on 8/7. I have still NOT received my FTHBTC. Last time I called, they told me to call them back after 10/17.....that's 20 weeks after they received the 1040x and 10 weeks to "review" a 3-page HUD statement. You have got to love the consistency and speed of the US Government.

vida · 1 month ago

I filed my amended return May 23 still waiting. I was told that due to the rebates for an amended
return it will take approximately 12-16 weeks now it is 20 weeks still waiting no letter no refund at least you got a letter my amended return was not for a rebate.

vida

Angie · 1 month ago

I am about to send in my 1040X. The print out from Turbo Tax inclueds our original 1040 yet the person I spoke with at the IRS said only to include the 1040X and the 5405.

Does anyone know if I should include the 1040 anyway? I want to make sure I do this right the first time since the turnaround time was quoted to me as 16 weeks now.

Thank you!

Jon · 1 month ago

When I first calculated my 1040X, I kept coming up to a $7766 credit, not the full $8000... I double-checked the forms and found out that I forgot to include the "Recovery rebate credit". So if anyone is having the same problem, make sure that you've included all of your other credits as well. Once I added the recovery rebate credit, it came out to $8000 like it should.

sarika · 1 month ago

I am filing 1040x for $8000 credit for a home i bought recently. My 1040x do not have any changes to my original 1040 other than $8000 credit. My question is do i still need to file amended tax return for the STATE. My AGI/deductions are same on 1040x.

Jon · 1 month ago

Sarika, my guess is that if you receive the $8000 this year, you should claim the income on your state return next year. If you filed an amended state return, that would imply that you received an extra $8000 of income in 2008. The state doesn't care where you received the income from, just that you report it on the tax return for the year you received it.

Angie, I intend on returning my Form 5405 with a completed 1040X amended return, but not with the original 1040. Other folks above have said both, so take my advice with a grain of salt. :^)

Matt · 1 month ago

If this takes 4 months to process, then at this point why not just wait and claim the 2009 credit on 2009 taxes?

File today 10-19-- four months is 2-19-2010. Your W-2's should be postmarked by 1-2010.

So theoretically you could get the $8,000 direct deposited at about the same time you could expect to receive a check from a 2008 amended?

Is there a reason not to wait for 2009 filing other than the fact that by filing 1040X you MIGHT get a check before February?

Thanks,
-Tax Noob

Tiz · 1 month ago

Hi... i still don't understand how to fill both of the forms i need help can anyone help me please!!!