Form
5405 (Repayment of the First-Time Homebuyer Credit) figures the repayment
amount (actually, an additional tax) for the 2008 First-Time Homebuyer
Credit. The 5405 is also used to notify the IRS that the home was disposed
of or ceased to be your main home.
Here's
how to enter – or delete – Form 5405:
- Open (continue) your return
if you don't already have it open.
- Inside TurboTax, search for homebuyer
credit and then
select the "Jump to" link in the search results.
- On the Tell us
about your homebuyer credit screen, answer Yes to the first question (it was still your main
home on January 1, 2017).
- To delete an unwanted 5405, answer Yes to the second question (it
stopped being your main home). Then select Continue and answer Yes on the next screen. You're
done.
- Enter the purchase date and
then select Continue.
- Follow the onscreen
instruction
