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Form 5405, Repayment of the First-Time Homebuyer Credit

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.

Entering Form 5405 in TurboTax

We make it easy! We'll ask you all the right questions, and fill out the form for you, if you need it.

If you've already gone through the step-by-step interview and want to jump directly to the entry screen for this topic, follow these directions.

  1. Select the Federal Taxes tab (the Personal tab in the Home & Business edition).
  2. Select the Deductions & Credits subtab.
  3. Scroll down the Deductions & Credits screen until you see the Your Home group.
  4. Click on the Start/Update button to the right of the Homebuyer Credit category.
  5. Follow the prompts.

Additional Questions

 If you need to correct or change any information you have entered on your 5405, the steps you take depends on if you have already filed your tax return.

  • If you have yet to file your return, simply follow the navigation instructions above, and correct or change your information.
  • If you have already filed your return, you will need to amend your return. Please click here for instructions.

For questions about printing, please click here.

If you have questions about the availability of form 5405, please click here.

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