When I filed my return, I got an rejection by TurboTax
"S2-F1040-147 - The e-File database indicates a First Time Homebuyer Installment Payment is due for the Primary SSN. Include amount on Schedule 2 (Form 1040), 'FirstTimeHmByrRepaymentAmt' and attach Form 5405 if required."
So how do I fix this?
@tagteam @bluedeb @xmasbaby0 @DawnC @ColeenD3 @AmyC @MaxTax00 @DaveF1006
You will fix the situation by adding Form 5405 to your return or going through that section to indicate that you no longer own the home for which you received the 2008 credit.
Form 5405 is for the repayment of the 2008 First Time Homebuyer Credit. If you still own the home for which you received the credit, then the IRS records will show that you are still obligated to pay back a portion of the credit as part of your tax return -- that is the reason your return was rejected. If you no longer own and live in the home, then you need to report that change in status on your return in the tax year that the status changed.
For more information about Form 5405, please see the following TurboTax article:
How do I add or remove Form 5405 for the first-time homebuyer credit?