Form 5405, Repayment of the First-Time Homebuyer Credit
Updated: 5/14/2013
Article ID: GEN85275
Previously, in an effort to stimulate the economy, the federal government allowed people who purchased a home in 2009 or 2010 to claim a tax credit that covered a portion of the costs.
If you have taken this credit, you can use Form 5405 to do the following:
- Notify the IRS that you no longer have the home for which you claimed the credit, or you still own it, but it stopped being your main home in 2012.
- Figure the amount of the credit you must repay with your 2012 tax return.