FTHB sold too soon

[Possi]

My FTHB amennded the 2008 to take the $8k credit.

He got in over his head with the house, and is selling it in the next couple of months.

I know the sale will go on the new form 5405, on the 2010 tax year return.

Is there any way to pay that debt before it is due on the 2010 tax return?

Sounds stupid, I know, but he may not have that money in a year!

Thanks~
donna

[Larmil]

My FTHB amennded the 2008 to take the $8k credit.

He got in over his head with the house, and is selling it in the next couple of months.

I know the sale will go on the new form 5405, on the 2010 tax year return.

Is there any way to pay that debt before it is due on the 2010 tax return?

Sounds stupid, I know, but he may not have that money in a year!

Thanks~
donna

Estimated tax?

[Possi]

Estimated tax...

Yes, that is what I will do.

He might not have a gain at all, in the final analysis. I'll need to figure that out, too, adjusting his basis by the $8000.

Thanks!