If you have filed your taxes for the most recent year but would like to take advantage of a new credit, such as the $8,000 first-time home buyer tax credit, without waiting for next year, you will need to file an amended income tax return.
You cannot file an amended tax return electronically. This article will explain the process and all it will cost you is a postage stamp.
Note: Some online tax preparation applications like TurboTax and Tax Cut allow you to complete this form online, but you are still required to print and send the forms and supporting documentation through the mail.
1. Have your completed tax return ready. Start with the income tax form you submitted earlier this year, either your 1040, 1040EZ, or 1040A. You will need to include some of this information on the new form. Do not attempt to rely on your memory.
2. Download the blank amendment form. You need Adobe Reader to download and print Form 1040X. It is available on the IRS website or directly from Consumerism Commentary through this link [pdf]. This will always link to the most recent 1040X.
3. Enter your current personal information in the top section. If you have a current version of Adobe Reader, you should be able to click on any blank line of the form to type directly into the document. Ensure you include the proper tax year at the top of the form; if you are completing this form in July 2009 to amend the tax form you filed in April 2009 for the 2008 tax year, make sure you enter the year 2008 in this field. Double-check your Social Security Number.
4. Identify what has changed. The second section of this page of form 1040X has three columns. The first column should contain the amounts you presented on your original 1040. The third column should contain the adjusted value. The second should contain the difference between your first column (original amount) and third column (new amount). For example, if you are adjusting your form to change the amount of your Earned Income Credit (EIC) from $0 to $300, line 13 would read would read in order $0, $300, and $300. If you are changing the EIC from $300 to $0, the line would read $300, -$300, $0.
5. Download the appropriate credit form. If you are filing the amendment because you now qualify for the first-time home buyers tax credit, download form 5405 [pdf] and use this form in the same manner to calculate your rebate. Enter the result from line 6 of form 5405 on line 15 of form 1040X.
6. Finish the calculations on 1040X. Continue until the first page of the form is complete and be sure to make note of any additional forms you need to provide based on the adjustment you are making.
7. Complete the second page of 1040X. You can skip Part I of the second page if you are not changing your number of exemptions and are not changing your exemption for families displaced by Katrina or midwestern storms. Part II is required. Explain why you are amending your return. Here is an example:
I am filing this amendment to claim the new first-time home buyer tax credit for the house purchased on July 1, 2009. Please see the enclosed documentation to support my ownership.
8. Print and sign the tax forms. Ensure you are printing all forms relevant to the amended tax return including any forms related to credits you are claiming. Don’t forget to add your signature where required.
9. Mail the forms and supporting documentation. In addition to the forms, include any evidence pertaining to the credit you are claiming to ensure the IRS will process your request quickly without questioning the validity of your claim. For example, you might want to include a copy of your bill of sale, your title, or your mortgage documentation.
Send your complete package to the address corresponding to your state.
I might include “(1040X)” at the end of the first line of the address to help route the form to the correct department faster.
It is unlikely the IRS will directly deposit any additional refund owed to you due to your amended return even if your initial refund was directly deposited, so you can expect to receive a check. Many people are reporting the IRS is very slow in providing these checks so ensure all of your documentation is in order and be prepared to wait four months or more.
Always remember that I am not a tax professional. Even if I were, this should not be considered tax advice. Ask your tax accountant if you have doubts whether to file an amended return.
About the Author
{ 54 comments… read them below or add one }
I’m actually working on an amended return now – not for the credit, but because I didn’t realize that my itemized deductions were larger than the standard deduction (thanks, one full-time job instead of four part-timers).
Do you also have to file a new 1040 as well with the 1040X form?
Don’t file a new 1040, just file the 1040X plus support. If you file a second 1040 it’s likely to confuse the IRS.
I received my $8000 home buyers credit a couple of weeks ago in direct deposit. It did take quite a while though (over 2 months).
I am jealous, I filed for mine with my regular return before April 15th and am still waiting…They gave me the rest of the return except for the 8k and said it is under review. Still waiting to see why…
One comment to note from experience with my clients – although the 1040X is a form in and of itself, attaching the “Originally Filed” and “As Amended” applicable portions of the 1040 is very helpful not to confuse Uncle Sam. We stamp everything either Originally Filed or As Amended, but if you don’t have a stamp, you can just write in big, bold letters at the top. No need to sign the “as amended” return b/c the 1040X covers the signature and filing requirements.
Great article, Flexo.
Those sounds like good tips, Eric. Thanks for sharing.
There are actually multiple addresses depending on where you live to mail it:
http://www.irs.gov/file/article/0,,id=109750,00.html
That may not be the correct address to file the 1040X. Page 3 of the instructions list the correct address for mailing, and it depends on which state you live in.
Brandon and Kimberly: You are correct. The address I originally listed was for those filing 1040X to claim hurricane grant relief. I’ve updated the article by linking to a list of addresses by state.
I got the $7500 NHBTC before they changed it to 8000. It also said that it would be deducted over 15 years or something, but now I hear that the 8K is not to be paid back….is that true? Plus is it complicated to file for the $500 I didn’t get in the first go round.
That is correct, you do not have to pay the (up to) $8,000 credit back if you qualify. More details are here. File the 1040X to claim the extra credit. It’s not difficult, but I’m sure it will take some time to receive the credit.
Hi, if the irs says they have not received my amended form for the first time house buyer credit, should i submit another amendment. It has been 8 weeks and it doesnt show in their system, should I wait or refile?…please advise. Thank you!
We are filing the 1040X just to claim the 2009 first-time home buyer credit. Do we leave lines 1-14 blank? Also, subtracting line 19 (original overpayment) from line 18 gives us a number less than $2000. Will this affect our getting the full $8000 tax credit? Is there a sample of a completed 1040X reflecting just a claim for the 2009 first-time home buyer credit?
Tasha – fill in ALL lines! If all you are doing is amending to get the First-Time Homebuyer Credit than Lines 1-14 in column A should be filled in (if you have entries for them – I didn’t have something for every single line) and then copied over column C. The only thing in column B is the $8000 on line 15 (which would then also go into line 15, column C). When you fill in ALL these lines it should take into account your original withholding and then your line 20 will be your NEW overpayment. Then you subtract line 10 from line 20 and it should equal $8000 (for line 22).
Just wanted to let you know that I received my $8000 (plus interest) from my 1040X by mail yesterday. I mailed my amended return around June 25, so I feel the turnaround was very acceptable. Even though our original refund came by direct deposit, this one came by check; I don’t know why.
did you receive a letter stating that you was approved for the $8000.00 and you should receive it in a couple of weeks before you got your check , or did they just send the check without notice?
I got a letter on July 31 that said I would receive the check on August 3. The check showed up On August 3rd.
Kimberly,
I will be closing on a home very soon and would like to know what you included in your amended 2008 tax return to receive your refund so fast. did you enclose the title? Anything else? Thanks in advance.
Awesome web site, I have gathered so much information about the $8,000 first time homebuyer, thank you so much for having this site to help us. Thank you, thank you, now I can do this myself following your step by step information on how to fill form 1040X, rather than to pay someone to do it for me, I usually do my taxes online whit TaxAct, I need to save all I can, I just bought a house on 7/28/09 was the closing. Is to bad that we have to wait almost 14-16 weeks to get it though I’m sure most of us need the money right now I know I do, but better something then nothing and later than never. Thank you all for all the advices and suggestions they are very helpful.
for line 15, if i have an original credit of 165, should the column C be 8,165 with the difference (column B) being 8,000?
Did you ever found out the answer to your question? I kind of haave the same question. Thank you
So i bought my home this past March of 2009 and filed my taxes mid April with the $8,000 credit form and the IRS magically lost my refund. I re-sent everything as marked it as “Copy of Prior Submitted Return” accordingly.
I received my initial tax refund via direct deposit, though it was missing the $8,000 home buyer credit, does this typically come after-wards as a standalone check/deposit of some sort? The irs site shows they are still reviewing my refund, but if they sent my initial return minus the home credit I cant imagine what they are reviewing.
Any tips/Insight?
Does anyone know if you have to wait until closing to file this amended return? I am closing in less than a month, and read somewhere else that you just need the purchase price and the closing date for form 5405..
Mona, you have to close on your purchase FIRST. Then, make a copy of the deed or title which should be in your name, and attach it to your 1040X . I’m not sure what else needs to be filed. Kimberly’s post above had great results. Send her a question or two about it. I know , definitely, you have to wait until after you close. Do it right away tough!
mona
that is correct, take a look at the form, all you need is an address date and magi
http://www.irs.gov/pub/irs-pdf/f5405.pdf
I filed my amended on 9/1 and talked directly with the IRS and they were able to provide me with step by step assistance on how to fill out the 1040x amendment and I asked if there was anything else that I needed to submit with the form other than the 5405 form and he said “no”. I was not asked for a copy of the deed or title on the home. It sounds good to attach a copy just in case, but not necessary.
We just sent our ammend off does anyone have a answer as how long it took them to recieve there 8,000 and if so did you send anything extra with your papers….closing papers ect..
Hello all,
I follow step by step above on how to fill out the forms and send my ammend back in August and I already received mine last week so it took almost 6 weeks all and all. I thought it was going to be longer. Is a great help and I owe it to this site that help me fill out the form by giving the instruction step by step, thank you, thank you for all the help, and help me save money by doing it myself. Great instruction.
Take care all,
Risi
Risi: Thanks for coming back to the site to let us know how it went. Glad we could help!
Wow, I must have gotten the slowest processer on the payroll. I filed my 1040x on May 26th. I received a letter the end of July asking for a copy of my HUD statement. I sent it that day and the IRS acknowledged receipt on 8/7. I have still NOT received my FTHBTC. Last time I called, they told me to call them back after 10/17…..that’s 20 weeks after they received the 1040x and 10 weeks to “review” a 3-page HUD statement. You have got to love the consistency and speed of the US Government.
I filed my amended return May 23 still waiting. I was told that due to the rebates for an amended
return it will take approximately 12-16 weeks now it is 20 weeks still waiting no letter no refund at least you got a letter my amended return was not for a rebate.
vida
I am about to send in my 1040X. The print out from Turbo Tax inclueds our original 1040 yet the person I spoke with at the IRS said only to include the 1040X and the 5405.
Does anyone know if I should include the 1040 anyway? I want to make sure I do this right the first time since the turnaround time was quoted to me as 16 weeks now.
Thank you!
When I first calculated my 1040X, I kept coming up to a $7766 credit, not the full $8000… I double-checked the forms and found out that I forgot to include the “Recovery rebate credit”. So if anyone is having the same problem, make sure that you’ve included all of your other credits as well. Once I added the recovery rebate credit, it came out to $8000 like it should.
I am filing 1040x for $8000 credit for a home i bought recently. My 1040x do not have any changes to my original 1040 other than $8000 credit. My question is do i still need to file amended tax return for the STATE. My AGI/deductions are same on 1040x.
Sarika, my guess is that if you receive the $8000 this year, you should claim the income on your state return next year. If you filed an amended state return, that would imply that you received an extra $8000 of income in 2008. The state doesn’t care where you received the income from, just that you report it on the tax return for the year you received it.
Angie, I intend on returning my Form 5405 with a completed 1040X amended return, but not with the original 1040. Other folks above have said both, so take my advice with a grain of salt. :^)
If this takes 4 months to process, then at this point why not just wait and claim the 2009 credit on 2009 taxes?
File today 10-19– four months is 2-19-2010. Your W-2’s should be postmarked by 1-2010.
So theoretically you could get the $8,000 direct deposited at about the same time you could expect to receive a check from a 2008 amended?
Is there a reason not to wait for 2009 filing other than the fact that by filing 1040X you MIGHT get a check before February?
Thanks,
-Tax Noob
Hi… i still don’t understand how to fill both of the forms i need help can anyone help me please!!!
On 1040x line 17 it asks “Amount of tax paid with original return plus additional tax paid after it was filed”, I’m not sure what to put there as I had a refund in 2008. So I overpaid the IRS. But I still technically paid taxes. Do I put the adjusted amount that I actually paid minus my overpayment that I received?
In the instruction book for the 1040X it says for Line 17: “Enter the amount of tax you paid from the “Amount you owe” line on your original return.”. If you had a refund, this would be zero.
Soooo, I filed my amended return for the First time Home Owners this year, the IRS recieved it on 08/31/2009…. And I’m STILL WAITING!! Then they tell me to call back after 0108/10. Really? Cuz by then, my regular tax return will be on its way. I think it’s a BIG Joke to push the economy.. but you don’t get this money until 6 months later!
And the Tax People are NOT helpful at all. But I bet if I owed them 8000 they would send me threating letters and demand it with in 60 days!
Does anyone know if this will effect my 2009 return??
Thx~
I used Turbo tax to amend my returns. The new refund amount on both my state and federal refunds increased, however when I printed out my returns to mail in, only the federal showed that I would receive a refund. The amended state return printout did not show an increase in the summary section, even though the refund amount did increase.
I wanted to post here because I filed an amended tax return on 12/9/09. Why so late? We didn’t close on the house until October and I had to request copies of my tax transcripts after the move. So once I got them, I filed the amended return along with the paperwork for the tax credit. I expected to receive the refund sometime in February (around the time I usually do my taxes… Yeah I coulda’ waited but…)
Imagine my surprise when the tax refund came TODAY. I’m still in shock!
So if you filed a month ago and haven’t heard anything… that seems fishy.
I did it all by hand by the way. No tax preparer and no online tax software. I am kind of old fashioned and need to write it out by hand to make sure it all adds up. Just wanted people to know the amended tax returns are definitely being processed and, in my case at least, in an efficient manner.
I forgot to mention that I included a copy of the settlement statement (HUD-1 is the name of the form I think) along with Form 5405 which may have sped up the process.
Hi Aaron did you include a copy of your original 1040? Or just the 1040X the 5405 and the HUD-1? I closed in July 09 and I haven’t filed the amended form. I thought the IRS would come up with something that would let you file this form electronically. Does anyone know anything about that before I file?
Thanks
LaShonda
LaShonda, I did not include my original 1040. I used information from the original 1040 to complete the 1040X form (where it asks for the original amounts). I filled in every single space on the 1040X form – in other words, if there was no change I made sure to put “0″ rather than leaving it blank, and for the correct amount, if there was no change I put in the original number. For me, I only reported a change on Line 15.
I haven’t seen anything indicating you can file this electronically, but honestly, I was able to fill the forms out in about 20 minutes. I sent the 1040X, the 5405 and a copy of the HUD-1 form on 12/9 and today, 1/5, I got my refund check (which was for the full $8,000 plus $200.60 in interest – I guess because I bought the home in September but didn’t get the refund for another four or five months?).
I know people will tell you to just wait until you do your taxes this year, but I know my company doesn’t get W2 forms mailed out until the end of January which makes it mid-Feb before I do my taxes… then you have to worry about the millions of other people doing their taxes at the same time. If you file an amended return, you’ll be getting a jump on everyone… at least that’s my opinion and I’m certainly no tax expert! I’m just some random Internet guy!
Aaron, which IRS center did you mail your return to? I mailed mine around 12/15/09 to Atlana. Just wondering if the different centers have different turn around times.
I sent mine to the Atlanta center, too, if I’m not mistaken.
I’m getting a late start amending my 2008 return. I qualified for the first time home buyer credit but I filed before all the tax preparation companies had the new paperwork ready. My question is: Should I wait to file my 2009 taxes until the 1040x goes through? Just worried that the fact I’m still signed up for the $7500 “loan” might effect my 2009 taxes and then I would have to amend that one as well. Thanks for the advice in advance…
Hi Steve you have to file your taxes by mail with the supporting documents if you’re claiming the First Time Homebuyers Tax Credit. What I did was filed an amended tax form for 2008. I mailed it off January 5,2010 with the 5405 and a copy of the HUD. I’m still waiting on my refund check. I will file electronically for my 2009 tax return once I receive my W2’s. Hope this helps .
LaShonda
Help. Can you file for the First time home buyers credit on these on-line sites? The house closed on Sept. 30 2009. My other question is, while doing my taxes on turbo tax its showing the credit. Will it be be there? or do I have to send all of it in by mail.
Does the credit come from 2008, or?
Please help.
I am about to close on 2/22/2010. Do I have to wait until next year to apply for the first time home buyer refund? I just filed my return 1040ez, and was hoping to filed an amendment. However, not quite sure if I am amending my 1040ez because that was last year’s tax and considering I am buying my placed and closing this year how does that work?
This is complicated so hopefully someone can provide information that will assist me. I have not filed my 2004 tax return. I was married, the divorce very ugly, taxes were the least of my worries. And, I realized that to file married but separate would cause me to fall into a much higher tax bracket (almost 14,000.00 to be paid), married filing jointly will greatly reduce my tax debt. My ex-husband has already filed his 2004 return (as most people have) so could we actually file an amended return so we can file married, jointly?
Please let me know if you can help or point me in the right direction. Just in case matters, we live in Texas.
Hi, i just finished filing my tax through a friend and he used H & R process. I wasn’t sure if he did the right thing, i want to amend my filed tac for 2009. How do i go about this?
Hi everyone,THIS IS A TOUGH ONE!!!
I was supposed to close on 12-23-09 when at the very last week the lender caught something with my status (Im single and I incorrectly filed Married) on my previuos years taxes that prevented us to close. In order to close I had to amend my taxes and wait for the IRS to process. I mailed them on Jan, 4th 2010 and waiting….
The lender is waiting on IRS and we have requested 2 extensions to the investor of the property. This last MONTH extension was given to us on 02-05-10 and they said they could not wait any longer than that, they will not give another meaning I would lose my Good Faith Deposit of $2000 and Inspecton and Appraisal fee of combined $900 Does anyone know how much longer before the amended taxes get processed? Or if there is anything I can do to speed up the process? The lender keeps requesting the transcripts to IRS and my status keeps coming back as Married.Can anyone help?