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New Member
posted Jun 5, 2019 2:41:11 PM

I used the "First Time Homebuyer Credit Account Look-Up" tool and it shows a negative balance left to be paid. Can I show that credit on this year's return somewhere?

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1 Best answer
New Member
Jun 5, 2019 2:41:12 PM

I would call the First Time Homebuyer Credit number to verify that there is indeed a credit in the account and that no further payments are due. 

https://www.irs.gov/credits-deductions/individuals/first-time-homebuyer-credit-account-look-up

If so, this would mean that there was an overpayment (most likely in the last year you paid it) and I would ask them what they recommend would be best for your situation. 

They may advise you to amend the previous return for the last year you repaid the credit in order to get this balance refunded to you.

3 Replies
New Member
Jun 5, 2019 2:41:12 PM

I would call the First Time Homebuyer Credit number to verify that there is indeed a credit in the account and that no further payments are due. 

https://www.irs.gov/credits-deductions/individuals/first-time-homebuyer-credit-account-look-up

If so, this would mean that there was an overpayment (most likely in the last year you paid it) and I would ask them what they recommend would be best for your situation. 

They may advise you to amend the previous return for the last year you repaid the credit in order to get this balance refunded to you.

New Member
Jun 5, 2019 2:41:13 PM

Thank you!  I called and they said the system does show a credit on the account, but he reviewed everything and told me I paid the full $7,500 back.  Even though it shows the credit, it probably won't do any good to file an amended return.

Thank you for pointing me in the right direction!

New Member
Jun 5, 2019 2:41:15 PM

You are welcome!