Form 5405-first time home buyer

[MargaretMort]

Back again, darn it. I feel so darned stupid this year, please excuse my frequent questions.

I was working on my first 5405. The only way I could get it to show the $8000 credit was to over-ride. I updated, didn't change anything. I am perfectly willing to over-ride, just feel I might be doing something wrong. The purchase price and the 10% are correct, line 3 shows the $8000, Line 4 shows 0 and the bunny hop only works if I over-ride. Line 3 is less than line 2. Modified income is more than $8000, no credit.!!!!!!!!!!!!! Such aggravation and it is too early in the season.

Please lead me down the proper path! Thanks. MM

[kcjenkins]

If you put in the purchase date in Sec B, and checked No in E, then the first box in Part II, number 3, the amount should flow to line 4 automatically.

[MargaretMort]

But it doesn't. Nothing but zero is in Line 4. Frustration is now my middle name. MM

[chuck]

part one try answering question E.

[MargaretMort]

It was and is "NO". Any other suggestions. Since I am running into these little problems that no one else is having makes me wonder if I need to re-load even though I have been up-dating frequently. MM

[TAXBILLY]

I would suggest discarding the form, save the return, and then add the form again. Sometimes resetting everything solves the problem.

taxbilly

[kcjenkins]

Might not hurt to do that.

[Pacun]

Go to LN 4 Calc Alloc Credit worksheet and take out the entry on line 1.

If you discarded the form and made only 4 entries on the new form, you should be OK.