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Level 2
February 4, 2024
Question

IRS First time Homebuyer Credit not carrying over in Lacerte 2023 program

  • February 4, 2024
  • 2 replies
  • 9 views

I have a client none of their information carried over to Screen 38.2 Repayment of the First Time Homebuyer Credit. It was completely blank. I went back and manually entered. Anyone else?

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    2 replies

    abctax55
    Level 15
    February 4, 2024

    Mine ( I only have one) populated properly.  Consider re-proforma'ing if you haven't already entered much info into the 2023 return?

    HumanKind... Be Both
    IRonMaN
    Level 15
    February 4, 2024

    I thought those started back in 1962 and I didn't even think there were any still out there. 😯

    Slava Ukraini!
    Level 2
    March 11, 2024

    These generally took place in 2007 and 2008, repayment usually started in 2010 and 2024 will be the last year of repayment for most taxpayers, if they are even still in that home.

    Level 2
    March 11, 2024

    This happened to one of my files- the taxpayer's credit came over but the spouse's did not. I called Lacerte and they claim to have fixed this via updates to 2022 and/or 2023 (in early Jan 2024). But I updated both my programs and then recreated the error on a test basis.