Resolved: 5405 Current year repayment should not be less than 1/15th of the total credit received error
Updated: 3/07/2013
Article ID: SLN68942
If information for a 2008 Homebuyer credit that has been fully repaid is entered in the interview
Then "Form 5405: Current year repayment should not be less than 1/15th of the total credit received" would generate in "Error Check"
Workaround:
The following steps will resolved this issue:
- Delete Form 5405 from the return. (For assistance with Deleting a Form)
- After deleting Form 5405 the error will be resolved.
Solution:
This issue has been resolved in a TurboTax update that was released on 3/7/2013.
For assistance with updating TurboTax please refer to the How to Update TurboTax support article.