Discussion:First time home buyer, when to file for . . .
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| Revision as of 13:36, 27 August 2009 Kevinh5 (Talk | contribs) (Discussion:Fsirst time home buyer, when to file for . . . moved to Discussion:First time home buyer, when to file for . . .) ← Previous diff |
Current revision DZCPA (Talk | contribs) (Dan, Its wierd b) |
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| {{ForumReplyPost|UserID=Ddoshan|Date=27 August 2009|Text=We're way to nice ... we only charge clients 12 dollars to amend for FTHB credit.}} | {{ForumReplyPost|UserID=Ddoshan|Date=27 August 2009|Text=We're way to nice ... we only charge clients 12 dollars to amend for FTHB credit.}} | ||
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| + | {{ForumReplyPost|UserID=DZCPA|Date=27 August 2009|Text=Dan, Its wierd but that is what is allowed. Obama wants to get that $8,000 into the economy ASAP.}} | ||
Current revision
Discussion Forum Index --> Basic Tax Questions --> First time home buyer, when to file for . . .
Discussion Forum Index --> Tax Questions --> First time home buyer, when to file for . . .
Dan's Tax Service (talk|edits) said: | 26 August 2009 |
| My client purchased his first home May 15, 2009. He requested that I file an amendment to his TY 2008 return to claim the tax credit. Can I or should I wait until 2009 filing?
He also has $7K plus in closing costs. Should I include this on his 2008 amendment (if he chooses to proceed with that direction) or include it on his 2009 return? | |
Death&Taxes (talk|edits) said: | 26 August 2009 |
| Dollars are dollars whenever you file for them, but I do suggest you read over other threads where some mention delays in obtaining refunds.
Since you client is most likely a cash basis taxpayer, the deductible closing costs [proration of real estate taxes, points, PMI] must be deducted in 2009, when he paid them. | |
Dan's Tax Service (talk|edits) said: | 26 August 2009 |
| Thanks D&T. I would prefer to file the bundle with his 2009 return; however, customer satisfaction is another matter. | |
Southparkcpa (talk|edits) said: | 27 August 2009 |
| I have done 2 amendments so far this year and it took less than ONE hour each. I charged the client $200 which I explained was for 1 hour time.
They got the 8K and are very happy. if you do NOT do it, they will most likely find someone who will. I would consider doing it. Just one opinion. Best wishes. | |
Dan's Tax Service (talk|edits) said: | 27 August 2009 |
| I guess my only personal hangup was that it is odd that I'm filing an amendment to a 2008 return for a purchase that occurred in 2009.
If it works, I'm going to give it a try. Thanks | |
| 27 August 2009 | |
| We're way to nice ... we only charge clients 12 dollars to amend for FTHB credit. | |
| 27 August 2009 | |
| Dan, Its wierd but that is what is allowed. Obama wants to get that $8,000 into the economy ASAP. | |
