"Homebuyer Credit Repayment" is not availble in the online version of turbo tax

[elkafoury]

I cannot find that option that existed for the past 15 years.

[MonikaK1]

The entries for repayment of the First Time Homebuyer Credit are not included in the 2025 return because 2024 was the last year to file Form 5405 or report repayment of the First Time Homebuyer Credit. 

If you took advantage of the 2008 First-Time Homebuyer Credit (which was actually an interest-free loan), you'd repay it in equal portions for 15 years, starting with your 2010 tax return. 

Your repayments were an additional tax that either lowered your refund or increased your tax bill through tax year 2024. If you got the full $7,500 credit, the additional tax is $500 per year; otherwise, if you got less than that, your repayment is 6.66% of the total loan amount.

Please see this TurboTax help article for more information.

[user17699010936]

Seem like I should have one more year if the repayment started tax year 2010 then it should end tax year 2025 right?

[MindyB]

No, @MonikaK1 is correct.  Since 2010 was included, 2024 was the last year the repayment needed to be reported:

Year 1 2010
Year 2 2011
Year 3 2012
Year 4 2013
Year 5 2014
Year 6 2015
Year 7 2016
Year 8 2017
Year 9 2018
Year 10 2019
Year 11 2020
Year 12 2021
Year 13 2022
Year 14 2023
Year 15 2024

[mslorip0804]

You are correct. I printed out my balance from last year and it stated my balance was $1000. Minus $500 for 2024 tax year, I have one more payment. 

[mslorip0804]

Looking back at my 2010 tax return, the credit was not taken out. It didn't start til 2011 tax year. So that is the reason of one more payment of $500 is needed. I will know when my return is rejected and then I will have to use an extra e-file transmission to resubmit. Intuit.Turbox Tax needs to work on that feature than deleting forms. Its a headache! Especially when you have 5 people in your household that needs to use the 5 free e-files on the almost $100 desktop program spent.

[VolvoGirl]

Maybe you are thinking it was 2011 because that’s when you were filing your 2010 return in 2011.  Or you missed entering it on your 2010 tax return, maybe because it was the first payment.   I don’t know how you need to pay it if you missed one.   

[User30269943]

The official IRS 2025 forms do not have an option to specify the first-time homebuyer credit repayment. That's probably why TurboTax does not include it either.

I'm in a similar situation. I did not start paying off the credit until 2011 because I only received the credit in 2011 (by filing an amendment to 2008 taxes).

So what I'm planning to do is to amend the 2024 filing and add another $500 to the repayment.