The clock is ticking on the $8,000 first-time home buyer and
$6,500 homeowner tax credits. Buyers must have a binding written
contract in place by April 30 and must close on the property by June
30.
To claim the tax credit on their 2009 return, home buyers must
fill out IRS form 5405 to determine the amount of their available
credit; apply the credit when they file their 2009 tax return or
file an amended return, and attach the documentation to the return
or amended return. For additional information, please contact
your CPA.
