Has anyone provided owner financing with your buyer being able to take advantage of the $8000 first-time home buyer tax credit? If so, would you be wiling to share what steps were involved?
Thanks is advance.
Tom
Has anyone provided owner financing with your buyer being able to take advantage of the $8000 first-time home buyer tax credit? If so, would you be wiling to share what steps were involved?
Thanks is advance.
Tom
yep
step 1: buy a house
step 2: amended 08 return to take the credit.
financing method is irrelevant.
I attempted twice but the deals fell through, but here’s what I know.
Same as mcwagner for amended return or for 2009 return with the extension would require irs form 5405(I think) and a settlement statement attached. For more info on the credit visit-
www.federalhousingtaxcredit.com or
http://www.irs.gov/newsroom/article/0,,id=204671,00.html
Herbster
At this late date, amended 2008 returns are taking about 20 weeks to process. You can get the credit much quicker by filing an early 2009 return.