House Just Bought

[Snaggletooth]

Client has filed return, but just bought her first-time home a couple days ago.

She wants (of course) to treat this purchase as if it were a 2008 purchase and get her $8000 back. Amended return required.

When writing the explanation, are there any special code sections or tax acts which should be mentioned so as to facilitate processing of the amended return?

Also, any evidence or documents required? (e.g. the closing statement) Amended returns sometimes provoke a request for souce documents.

[JG EA]

Update from TTB - it says:

Under the new rules, a home purchased in 2009 is still treated as a 2009 purchase even if the election is made to claim the credit on the 2008 return. Form 5405 has been revised to accommodate this new rule. If a home is purchased in the eligible 2009 period, the taxpayer can elect to claim the credit on the 2008 return by checking the box on line C, Part I, of Form 5405. Making the election to claim the credit on the 2008 return does not change the fact that the purchase is a 2009 purchase, subject to the new rules for homes purchased in 2009. Thus, the taxpayer can claim the higher $8,000 credit on the 2008 return, and not be subject to the recapture rules assuming the home is not sold within three years of the date of purchase. The election to report a 2009 purchase on the 2008 tax return can be made by filing an amended 2008 return.

Does this help you at all?

PS. No closing statement attached I'd say - it would probably just delay the amended return processing time.