Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
merlinschenk
New Member

2008 Homebuyer Credit Payment Extension

So we were lucky enough to purchase a new (to us) home this past year and kept our house purchased in 2008 as a rental. We've been repaying the homebuyer credit $500 a year since 2008 and now that it isn't our primary residence we are to repay the entire balance. Is there a way to request an extension or payment plan for this? We did not anticipate this additional tax burden.
Thanks for your help
1 Best answer

Accepted Solutions
cameaf
Level 5

2008 Homebuyer Credit Payment Extension

No, there is not a way to request and extension or payment plan for the Homebuyer Credit itself, but you can request an installment agreement with the IRS is you owe tax debt. This can be done when filing your return in TurboTax and can also be requested online at www.irs.gov/payments.

If you have questions about your FTHBC account, call the FTHBC toll free number at 1-800-919-0352.

This link explains how to apply for an installment agreement using TurboTax:

https://ttlc.intuit.com/replies/4062611

View solution in original post

1 Reply
cameaf
Level 5

2008 Homebuyer Credit Payment Extension

No, there is not a way to request and extension or payment plan for the Homebuyer Credit itself, but you can request an installment agreement with the IRS is you owe tax debt. This can be done when filing your return in TurboTax and can also be requested online at www.irs.gov/payments.

If you have questions about your FTHBC account, call the FTHBC toll free number at 1-800-919-0352.

This link explains how to apply for an installment agreement using TurboTax:

https://ttlc.intuit.com/replies/4062611

View solution in original post

Dynamic AdsDynamic Ads
Privacy Settings
v