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kenpkitt
New Member

How do i add repayment for spouse of fthb loan? I have a reject code S2-F1040-429. I can not find where to add this payment on the website drop down menus.

 
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2 Replies
JeanneLO
Intuit Alumni

How do i add repayment for spouse of fthb loan? I have a reject code S2-F1040-429. I can not find where to add this payment on the website drop down menus.

Please see this TurboTax FAQ on where to fix the information for form 5405 for your IRS rejection code S2-F1040-429. You can choose to edit the form instead of deleting it. How do I edit Form 5405 for the first-time homebuyer credit?

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How do i add repayment for spouse of fthb loan? I have a reject code S2-F1040-429. I can not find where to add this payment on the website drop down menus.

If you moved out of the home prior to 2020, you can't make a repayment now.  You were supposed to file form 5405 in the year you moved out to repay the remaining balance you owed, and you don't owe anything now.

 

If you did repay the remaining credit when you moved out, and the IRS database is wrong, you need to contact the Taxpayer Advocate to fix it, and meanwhile print and mail your 2020 return.

 

If you did not file form 5405 in the year you moved out, you must amend that tax return and pay back the credit you owe.  You don't owe a repayment for 2020 but you can't e-file and will have to mail your return. 

 

If you only moved out in 2020, then when you provide the proper date to Turbotax, it should guide you to complete form 5405 to calculate what you owe as a repayment to the IRS.  

 

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