First Time HomeBuyer account lookup

Key tips and advice the working tax pro can use.
#1
chris  
Posts:
1209
Joined:
20-Apr-2014 7:31pm
Location:
New York
After sitting on hold with the IRS and having the nice rep explain to me that "it's impossible to find out the remaining balance of a taxpayer's first time homebuyer credit" -- I decided to just google for it. And found this:

https://sa.www4.irs.gov/irfof-fthb/

:roll:
Site admin and software developer for TaxProTalk.com and https://TheSiteFactory.com
 

#2
makbo  
Posts:
6840
Joined:
23-Apr-2014 3:44pm
Location:
In The Counting House
The availability of the FTHBTC lookup tool has been publicized by IRS in routine news alerts since at least 2012.

Here's a tip: sign up for IRS news alerts, many categories to choose from.

https://www.irs.gov/e-file-providers/jo ... fessionals
 

#3
Posts:
8151
Joined:
4-Mar-2018 9:03pm
Location:
The Office
makbo wrote:The availability of the FTHBTC lookup tool has been publicized by IRS in routine news alerts since at least 2012.

Here's a tip: sign up for IRS news alerts, many categories to choose from.

https://www.irs.gov/e-file-providers/jo ... fessionals


Thanks for the tip. I just signed up.
 

#4
Posts:
82
Joined:
1-May-2014 2:47pm
Location:
Southern California
One thing I learned the hard way about this tool: Within this system, each spouse is only assigned half of the debt/payments made.

Therefore, when the taxpayer comes to you and has no idea how much was borrowed or has been paid back, you need to look up BOTH spouses SSN in order to get the appropriate total to put on the MFJ return Form 5405, and/or 1040 Line 60b.
 

#5
Posts:
1246
Joined:
22-Apr-2014 5:22pm
Location:
Upstate, NY
I’ve also had this lookup tool be completely wrong.
 


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