I am bring told I need to update my home buyer tax credit on a home have not lived in in 5 years... what do i do?

[LindaS5247]

The Homebuyer Tax Credit is no longer available. This credit was only applicable for homes purchased between 2008 and 2010. To repay the first-time homebuyer credit, you are required to make 15 equal payments between 2010 and 2025. You would report these payments on Form 1040, Schedule 2 and Form 5405.

You can delete Form 5405 and revisit your TurboTax screens regarding this credit to get rid of this requirement to update your credit by using the instructions below.

To get to the Homebuyer Credit entry screens in TurboTax to review your entries, you can do the following:

1. Click on the search icon in the upper right of your TurboTax screen
2. Type "homebuyer credit" in the search bar
3. Click on the link "Jump to homebuyer credit"
4. Your screen will say "Tell Us About Your Homebuyer Credit"
5. Select "Yes but the home I received the credit for stopped being my main home on or before December 31, 2023"
6. If you never received the credit, select "No, I never got this credit"

To search for your homebuyer's credit screens 

homebuyer's

Select "Yes" to confirm the deletion of Form 5405

Click here for Can You Still Take the First-Time Homebuyer Credit?