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Form 5405

I have tried 5 times to submit my return to the IRS and each time is was rejected due to the form 5405.  I tried submitting it as a joint credit (per the original return in 2009); then I tried separating the credit into a separate Form 5405 for the taxpayer and the spouse; the I up-graded from the Premier version to the Home and Business version and each time the return was rejected.  I tried going to the special web site the IRS has for the First Time Home Buyer Credit, but likely due to the current atmosphere in Washington, the site is not available.  What else could I possible due to get the return to be accepted?

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1 Reply
AmyC
Employee Tax Expert

Form 5405

If you are just making your final payment, you don't need the form. It goes on sch 2 line 10. This is the final year of the form. I have found people trying to file this form when they moved out of the house in a prior year and failed to file the form. Maybe you have an issue preventing the form from filing or you don't need it at all.

 

The program shows 5405 in forms availability here. A work around thought - Honestly, since this is the final year of the form,  delete it and just make the payment.

 

About Form 5405, Repayment of the First-Time Homebuyer Credit states:

You must file Form 5405 with your 2024 tax return if you purchased your home in 2008 and you meet either of the following conditions.

You disposed of it in 2024.

You ceased using it as your main home in 2024.

But see Exceptions, later.

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