Can I claim 8K and file later

[ineedcreditbad]

Guys,

I have my closing on May 15 can I file on April 15 and claim the 8K or will I have to wait until May 15.

Ed

[brownee]

You have to close before you can take the credit.  I believe you can ask the IRS to let you file late (can't think of the word right now..lol) and that way you could file after closing for the 2008 returns. Good luck!

[brownee]

An Extension..that's the word I was looking for. See if they'll give you an extension on your filing deadline.

[ineedcreditbad]

Well I can file for an extension. Thanks for the advise.

Ed

[Anonymous]

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@ineedcreditbad wrote:

Guys,

I have my closing on May 15 can I file on April 15 and claim the 8K or will I have to wait until May 15.

Ed

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I've heard that after you close you can file an amendment to your tax returns and that you will then be able to get the $8K.  No need to request an extension or send your taxes late or wait until next year.  

[Anonymous]

You can file and ammendment, but there is a fine to ammend tax returns and I am not sure what that is.

[Anonymous]

go ahead and file your taxes now...and then when you close you can ammend your return to reflect the 8 grand refund. you can ammend a return for up to 2 yrs. you do not want to ask for an extension, as they want a REALLY good reason and this isn't a good one, and they fine you for doing so.

[Anonymous]

There is not a fine to file an amended return

You could pay a fine if you have to amend  because you forgot to include income and you owe more  in taxes 

Also filing for an extension is quite simple. You just file out the form, mail it in by April 15th

if you foresee owing any additional tax..send a check with it

I have had  get extensions in the past and was never denied and there is no fine.

An extension gives you more time to file, it does not give you more time to pay.

[Anonymous]

I just filed ammended tax returns for 04 and 05 due to errors and there was a charge to ammend them.  I don;t htink it is high, but the IRS agent I talked to yesterday definitely told me there was a fine becuase the change I was making was minimal and she wanted to make sure that I wanted to ammend them since the difference might be offset by the fine.

[ineedcreditbad]

Thanks for the advise guys.

Ed