Log in

View Full Version : Homebuyer Tax Credit - Final Settlement Statement (HUD-1)


Avalanche
Mar 22, 2010, 10:08 AM
Hi,

I bought a home in AZ and I would like to get the first time homebuyer credit. I saw this on the IRS website under Form 5045 instructions:

***In addition to filling out a Form 5405, all eligible homebuyers must include with their 2009 tax returns one of the following documents in order to receive the credit:
A copy of the settlement statement showing all parties' names and signatures, property address, sales price, and date of purchase. Normally, this is the properly executed Form HUD-1, Settlement Statement.***

I received my final settlement statement in the mail and there are no signatures on it. And I think this is a common practice in AZ and some other states.

I woulkd like to know if my credit request could be rejected due to missing signatures.

Thanks,
Avalanche

Jaykid007
Mar 22, 2010, 08:53 PM
Revisions have been made. If you have a final settlement statement, sign and date it, and mail it in with your fed return via mail.

No need to have the seller sign it.

Avalanche
Mar 23, 2010, 10:15 AM
Revisions have been made. If you have a final settlement statement, sign and date it, and mail it in with your fed return via mail.

No need to have the seller sign it.


Thanks Jaykid.

IIQuickSilverII
Apr 15, 2010, 07:47 PM
If I can get some extra help on this... what if you forget to include the HUD>.. I have mine just forgot to include today... Yah I am an idiot, I know.. thanks for help in advance

AtlantaTaxExpert
May 7, 2010, 12:27 PM
If you are lucky, the IRS will put the tax return ON HOLD and ask you to provide a copy of the closing statement, then process the return when you send them the closing statement, or REJECT the return, in which case you re-submit WITH the closing statement.

If you are NOT lucky, they will delete the $8,000 First Time Home Buyer's Credit and process the return, and you will have to amend the return to claim the credit.