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First-Time Homebuyer Credit on Amended Tax Return

KCameron
Level 3

I have a client who is repaying the first-time homebuyer credit. For 2020, the payment was made. We are trying to file an amended return for 2020 and we get an error saying the payment amount can't be greater than the amount in the e-file database if we leave the 5405 on the return. If we remove it, or make the repayment $0, we can an error saying an installment payment is due. Is there a solution other than mailing in the return? 

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4 Comments 4
jeffmcpa2010
Level 11

If Client owes additional tax, just have them mail the return.

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KCameron
Level 3

Thanks for the feedback. It's a refund. Otherwise, a paper return would be the way to go. I know a paper filed refund will take a year to get back, if we are lucky.

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rcooley25
Level 11

If you had a refund it would be a year coming but rest assured if you mail a check in with the return it will be at the bank in about 10 days.

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KCameron
Level 3

Absolutely. And if you mail a tax return with the payment, who knows when that will get processed. Such a mess.

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