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First time homebuyer tax credit over two years
Hello,
I bought my first home in January of 2021. I was hoping to close in December of 2020, but the timing didn't work out.
I withdrew money from various accounts (an IRA from an inheritance, closing an old retirement acct, etc.) to close on my home, but all of those withdrawals occurred at the very end of 2020. In those withdrawals, I paid state and local taxes, but I know that I should be able to get some of that back because this is my first home purchase.
My question is: how to I get that money back?
I believe the answer is to amend our 2020 taxes now that the house purchase is complete. But is there anything I need to do in 2021 taxes? Or is this all about amending our 2020 taxes?
Thank you!
‎April 4, 2022
4:04 PM