helow Posted May 27, 2010 Report Posted May 27, 2010 TP bought a house in 12/1/2008 and received $7500 first time home buyer credit. She heard about the free $8K tax credit and filed 1040x for 2008 and included $8K credit in line 64 of her 2009 tax return. Today she received a letter from IRS with a bill of over $6K, not including interest and penalty. In IRS respond they say that the credit is disallowed because she owned another house. When I asked tp about this she says this is her first home she ever purchased. Could there be mistake here? Maybe the IRS is thinking that TP is claiming the credit again! Has anyone experienced something like this? Thanks much Helow Quote
helow Posted May 27, 2010 Author Report Posted May 27, 2010 Sorry, TP bought the house on 1/20/2009. She also file 5405 and mail it along with her 2008 and 2009 tax. Thanks Quote
helow Posted May 27, 2010 Author Report Posted May 27, 2010 CORRECTION TP bought a house in 1/20/2009 and received $7500 first time home buyer credit. She heard about the free $8K tax credit and filed 1040x for 2008 and included $8K credit in line 67 of her 2009 tax return. Today she received a letter from IRS with a bill of over $6K, not including interest and penalty. In IRS respond they say that the credit is disallowed because she owned another house. When I asked tp about this she says this is her first home she ever purchased. Could there be mistake here? Maybe the IRS is thinking that TP is claiming the credit again! Has anyone experienced something like this? Thanks Helow Quote
helow Posted May 27, 2010 Author Report Posted May 27, 2010 Another question. TP 2009 shows a refund of 10,000 after including $8000 in line 67 and 2008 she received 7500 refund after she included 7500 credit. The difference between 10,000 and 7500 should be her refund, right? How does it work? Thanks Helow Quote
TAXBILLY Posted May 27, 2010 Report Posted May 27, 2010 Hard to follow these four posts. Could you try again and present the facts correctly? taxbilly Quote
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