IRS Form 8859 Carryforward of the District of Columbia First-Time Homebuyer Credit

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IRS Form 8859 Carryforward of the District of Columbia First-Time Homebuyer Credit

What Is IRS Form 8859?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 8859?
A: IRS Form 8859 is a form used to carry forward the District of Columbia First-Time Homebuyer Credit.

Q: What is the purpose of IRS Form 8859?
A: The purpose of IRS Form 8859 is to allow taxpayers to carry forward any unused portion of the District of Columbia First-Time Homebuyer Credit.

Q: Who needs to file IRS Form 8859?
A: Taxpayers who received the District of Columbia First-Time Homebuyer Credit and still have remaining credit to carry forward need to file IRS Form 8859.

Q: What is the District of Columbia First-Time Homebuyer Credit?
A: The District of Columbia First-Time Homebuyer Credit is a tax credit available to individuals who purchased a home in the District of Columbia as their primary residence.

Q: How long can the District of Columbia First-Time Homebuyer Credit be carried forward?
A: The District of Columbia First-Time Homebuyer Credit can be carried forward for up to 15 years.

Q: What information is required to complete IRS Form 8859?
A: To complete IRS Form 8859, you will need information about the original amount of the District of Columbia First-Time Homebuyer Credit received and any previous carryforwards.

Q: What should I do with IRS Form 8859 after filling it out?
A: After filling out IRS Form 8859, you should attach it to your federal tax return for the year in which you are claiming the credit.

Q: Can I file IRS Form 8859 electronically?
A: No, IRS Form 8859 must be filed by mail and cannot be filed electronically.

Q: How long does it take to process IRS Form 8859?
A: The processing time for IRS Form 8859 can vary, but it generally takes about 12 weeks for the IRS to process the form and issue any applicable refunds.

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Form Details:

  • A 1-page form available for download in PDF;
  • This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
  • Editable, printable, and free;
  • Fill out the form in our online filing application.

Download a fillable version of IRS Form 8859 through the link below or browse more documents in our library of IRS Forms.

Download IRS Form 8859 Carryforward of the District of Columbia First-Time Homebuyer Credit

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