Natalya Attestatova, CPA

First-Time Homebuyer Credit Documentation

February 19th, 2010

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.

Entry Filed under: Other