Although, the federal home buyer tax credit may be over, home buyers who want to claim the tax credit on their 2009 tax return must do so on paper—not electronically. This is required by the IRS so a taxpayer can attach the necessary documentation to their tax return. If you are in need to file your claim, you will need a Form 5405,First-Time Homebuyer Credit, which must be submitted in paper form along with the tax return and a copy of the settlement statement that shows the completed home purchase. If the property is new construction, a settlement statement would be unavailable but the taxpayer/home buyer can substitute a copy of the certificate of occupancy. To satisfy the requirements the certificate must show the homeowner’s name, property address and certificate date. To claim th...
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