If the taxpayer purchased a home in 2008, still live in it as their main home...
If the taxpayer purchased a home in 2008, still live in it as their main home and took the First-time Homebuyers Credit, which of the following is true for 2018?
| a. They must file Form 5405 and make the annual installment payments on line 60b, Schedule 4. | ||
| b. No Form 5405 is needed, enter the annual installment payment on Schedule 4, line 60b. | ||
| c. No Form 5405 is needed, enter the annual installment payment on Schedule 1, line 17. | ||
| d. They must file Form 5405 and make the annual installment payment on Schedule 1, line 17. |
Homework Answers
If the taxpayer purchased a home in 2008, still live in it as their main home and took the First-time Home buyers Credit, The following is true for 2018 is option (a)They must file Form 5405 and make the annual installment payments on line 60b, Schedule 4
Form 5405 was revised to facilitate repayment of the first time home buyer tax credits was made in November 2018, it was originally created to facilitate between 2008 and 2010 but then it is extended till 2018
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If the taxpayer purchased a home in 2008, still live in it as
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