Individual 1040: For Certain Customers, Repayment of the Homebuyer Credit May Be Incorrect
Certain customers, who repaid part of their 2008 Homebuyer credit, may have paid an incorrect amount.
The issue has been fixed.
How to tell if you are impacted
You may be affected if:
- You filed a 2010 federal tax return prior to March 24, 2011 AND
- Your filing status on your federal return was "Married Filing Jointly" AND
- Your spouse died in 2010 AND
- Your 2010 tax return included a repayment of the Homebuyer Credit that you received on your 2008 tax return AND
- In the TurboTax interview, you entered the entire amount of Homebuyer Credit received. See Federal Form 5405, Part IV, line 14 for the amount you entered.
Note: For a married couple, repayment amount of the 2008 Homebuyer Credit is based on 100% of the Homebuyer Credit originally received. However, if one spouse died in 2010, the repayment should only be based on 50% of the Homebuyer Credit received.
If you are affected, you may have overpaid your federal taxes, and you will need to amend your federal tax return.
If you need to contact us, please use the phone number in the email from TurboTax, and tell the representative you’re calling about the Federal: Homebuyer Credit Repayment.
Let us do the work for you. We highly recommend this.
- Please download and print this Authorization Form.
- Complete the form and fax it to us at the number printed at the top of the form.
- Note: After we receive your completed authorization form, please allow up to 15 days to amend your return.
- You can print, sign and mail the corrected return to the IRS.
Or you can make the corrections yourself. However, the amend process can be complex.
- To do it yourself, please follow these step-by-step instructions.
- After you make the changes to your tax return, you will need to mail a copy to the IRS.
- If you need assistance, call us at the phone number in the TurboTax email.