U.S. taxpayers should use Form 5405 to claim the first-time homebuyer tax credit; the same form should be used for the $7,500 (last year's credit) or $8,000 credit (2009's credit). The IRS recently posted a revised version of the original Form 5405. The updated version reflects changes pursuant to the American Recovery and Reinvestment Act of 2009 (commonly known as the 2009 economic stimulus plan) that passed in February 2009.

Click here to download Form 5405 in a single PDF file.

Click here to download Form 1040X in a single PDF file.

If you have any questions regarding this credit, or anything else relating to purchasing your first home, please email jc@justcalljc.com. This is just another one of the several topics we discuss in our first time buyer seminars.