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First time home buyer credit payback
My husband and I bought our house in 2008 and therefore have to pay back our "first time home buyer credit," over the next 15 years. The first year that we were to start paying it back (2010 return), we received a tax form in the mail from the IRS. Last year and this year, we haven't received anything in the mail.
Last year, I just took it upon myself to add the amount we're supposed to repay in the appropriate spot in Turbo Tax when I did our taxes, but I'm just wondering if anyone else that is paying theirs back has been getting forms from the IRS? I just read this on irs.gove
"In the fall of 2010 or the first year after you claim the credit, and every year until the credit is repaid, the IRS will send you Notice CPO3a, Repaying your First-Time Homebuyer Credit. This notice lists the amount of the credit you received and the amount you have to repay as additional tax."
I only got that notice the first year.I wasn't sure where I should post this question so I'm trying here AND the home message board!
Re: First time home buyer credit payback
@MrNibbles
We are in the exact same position.
Didn't move. Just haven't received the notification. In fact, when I went to file our taxes in mid-January, it wouldn't let me e-file because the IRS hadn't even released the tax forms for the payback. It said they'd be sent January 31st. Here's hoping they arrive soon.
I never got a form last year, I'm assuming I won't get one this year. But, when I used TaxAct to file last year, there was a spot to fill in the amount so I just did it that way.
When I looked on IRS.gov's site yesterday, I actually found a page where you can enter your information and it tells you how much to pay this year (which should be the same as the last two years obviously) and what you've paid off so far. I'll be damned if I can't find the darn link again though!
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