Mortgage Insurance Premiums Irs
One more question about doing a tax amendment?
Ok, I think I have figured it out. lol.
I originally did my taxes on turbotax. I now need to do an amendment to claim the first time home buyer credit, mortgage interest and insurance premiums.
So is this what I need to do:
Fill out a new 1040 so I can trasfer it to the 1040x.
Send the 1040x, Schedule A, Form 5405 and a copy of the settlement paperwork to the IRS.
Does this sound right? Am I missing ANYTHING??
Well I do have the original 1040, I thought I would need a new one to transfer numbers over, but I didn’t. So scratch that. I got it all figured out, thanks!
Dear AM: The Sch A is not required. Seems like you have done your home work.
A couple tips. (1) Make sure the address on the 1040X is the address of the new home (2) Send the HUD form from the closing. (It’s the long form with two columns buyer/seller) (3) On the 1040X the numbers will all be the same except the $8000 (or smaller) as a credit at the bottom of the “X”.
Must be mailed.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent
