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 Fax Number for Form 5405 2010

5405 2010-2025 Form

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Instructions and help about what is form 5405

welcome to the Minnesota Association of Realtors EV video resource my name is Chris Galler the issue we're going to talk about today is the firsttime home buyer tax credit or the reoccurring tax credit for people that have been in their homes at least five of the last eight years the biggest question we're receiving what if my buyer and seller agree to a purchase agreement they sign off on everything and the bank because it's a short sale hasn't approved it yet what's your guidance what's your knowledge about that we've asked n the National Association of Realtors and they've come back with a written response to it the IRS is 545 that's the ruling on it you can get the Q&A there you can also get the instructions but on this particular question if the property is involved in a short sale the buyer and seller have signed off fully executed a purchase agreement that's contingent upon the bank approving

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