First-Time Homebuyer Credit Documentation
The IRS has revised its regulations and provided additional clarification regarding documentation requirements on the First Time Homebuyer Credit. First of all, the taxpayer claiming the credit WILL NOT be able to file the return electronically. Moreover, the taxpayer must attach a signed closing statement (HUD-1) to the return. And in states where taxpayers are not required to sign HUD-1s, like California, the IRS still recommends the taxpayers to sign the statement prior to attaching it to the return.
1 comment February 19th, 2010
