Form 5405, I have no idea how to fill this form out. I don't have any of the information due to relocation.

[DoninGA]

Form 5405 is for a First Time Homebuyer's Credit repayment.  Did you receive a Homebuyer's credit on a house purchased in 2008 or 2009?
Was your e-filed tax return rejected by the IRS?  If so, what is the rejection code and message?

[xtrallence]

bought the house in 09 foreclosed in 14


Description of error:
The e-File database indicates a First Time Homebuyer Installment Payment is due for the Primary SSN. A Form 1040 must be filed, with the repayment amount included on Form 1040, Line 60b or Form 5405 must be attached to Form 1040.

What needs to be done:
IRS database indicates that an installment payment is due for the First Time Homebuyer Installment Payment. This payment amount should be included on the return you efiled. The IRS has provided a direct online lookup tool to view the First Time Homebuyer Information. To access this lookup tool, copy and paste the following URL link into your browser window. <a rel="nofollow" target="_blank" href="https://sa2.www4.irs.gov/irfof-fthb/">https://sa2.www4.irs.gov/irfof-fthb/</a> After you have made the appropriate changes, re-submit this return electronically. If the reject continues, you will need to file this return via U.S. mail.

[SweetieJean]

Did you claim the rest of the repayment on your 2014 return?

[xtrallence]

thank you for your service

[SweetieJean]

@xtrallence  I assume you're thanking @DoninGA, although I myself am the widow of a military man.

[DoninGA]

See this TurboTax support FAQ for entering a Form 5405 on your tax return - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1901522-how-do-i-add-or-remove-form-5405-for-the-first-time-homebu...>
See this TurboTax support FAQ for the IRS error code IND-147 - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3635986-reject-code-ind-147-the-e-file-database-indicates-a-first-...>
Look up the amount you owe on the IRS website - <a rel="nofollow" target="_blank" href="https://sa.www4.irs.gov/irfof-fthb/">https://sa.www4.irs.gov/irfof-fthb/</a>

[DoninGA]

Or if you received an IRS CP03C Notice - <a rel="nofollow" target="_blank" href="https://www.irs.gov/individuals/understanding-your-cp03c-notice">https://www.irs.gov/individuals/und...>

[xtrallence]

Thank you, i found out what I must do. I just now need to figure out how to do it.

[Opus 17]

So the problem is that you needed to fill out form 5405 on your 2014 tax return when you foreclosed.  That would either require immediate repayment in full of the remaining credit, or no repayment, depending on the circumstances.  Either way, you are relieved of all future responsibility.  Turbotax in 2015 and 2016 allowed you to make a payment, but for 2017 the program is more careful to ask when you moved out.  Since you moved out in 2014, you don't owe a payment for 2017.

You need to go back to your 2014 return and file an amended return that includes form 5405.  In the first time home buyer section, you will indicate that you sold or moved out.  Answer questions about the circumstances. The form will calculate whether you owe repayment of the credit or if the credit is forgiven.

Then for 2015 and 2016 you can file amended returns to get a refund of the $500 payment you didn't need to make.

For 2017, you don't owe a payment, but you can't e-file without it because the IRS still has you on record owing a payment.  So print and mail your return (without form 5405 and without a repayment).

[Decuire23]

I am not a first time home buyer why do I have to fill this out I only rent apartment 

[Opus 17]

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@Decuire23 wrote:

I am not a first time home buyer why do I have to fill this out I only rent apartment 

---

You are jumping into the end of a very long and old discussion.

Are you saying that your tax return is being rejected for not including a first time homebuyer repayment, but you did not buy a home or use the credit in 2008?  What about your spouse or any dependents, did they use the credit in 2008?

[cmuirbiggs]

error says" i have to add first time buyers repay payment amount which is 500$" copy??

[DawnC]

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

Your repayment is an additional tax that will either lower your refund or increase your tax bill through tax year 2025.  If you got the full $7500 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.

To get to this section in TurboTax, search for homebuyer credit in your TurboTax program and select the Jump to link in the search results.  Then, answer yes, enter the date your home was purchased, and follow the on-screen instructions. We'll calculate the tax and handle the rest, including adding Form 5405 to your return.  Then you can resubmit your tax return for e-filing.  

How do I add or remove Form 5405 for the first-time homebuyer credit?      @cmuirbiggs

[Littlebit196868]

I am try to fill out form 5405! I bought a home on 03/14/2008 for 221,000.00 and had to short sell the home and was bought on 11/02/2011 and it sold for 154,000.00 so as you can see I had a loss I received the 7,500.00 and have paid 2000.00 of it back! So how do I fill out this form! Help!