Re: form 5405

My returns are getting rejected stating that I need to file a form 5405, however when I go in and answer the questions it deletes the form. I am not sure what to do, I don't want to mail the forms in and then find out they are rejected. Please advise.

posted

I'm not certain which version of TurboTax you are using, but recently there was an update to the desktop versions. This may be part of the issue. If you use a desktop product, make sure to perform an update the next time you log back into your tax return.

If you received the First-Time Homebuyer Credit in 2008, then you need to complete Form 5405 to account for your $500 repayment amount.

You can confirm your repayment balance for the First-Time Home Buyer Credit by clicking this IRS link: First-Time Homebuyer Credit Account Look-up.