On Friday, January 15, the IRS released Form 5405, which is to be used by homeowners filing for their $8,000 tax credit. No online equivalent to this form currently exists, so those who wish to claim this tax credit must file their tax returns on paper. The form is available from the IRS here. Filers who wish to claim this credit will also need to include a copy of their settlement statement received on the close of the home purchase escrow with their tax return, or a copy of an executed retail sales contract for a mobile home purchase or a certificate of occupancy on a newly constructed home.

first tuesday take: For first tuesday’s advice on claiming this tax credit, please see our news blog “Wait for revised IRS form 5405 to claim extended housing tax credit.” For first tuesday’s take on the tax credit, and what it means for California and the Nation in general, see “Homebuyer tax credit part 2: the return of the subsidy.”

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