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formanp
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I am trying to update the home buyer credit section, however it is not working to adjust my 1040 it keeps resetting to the original answer. Can you please help?

 
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3 Replies

I am trying to update the home buyer credit section, however it is not working to adjust my 1040 it keeps resetting to the original answer. Can you please help?

Did you move out of the home where you got the credit before 2019?  If so, you don’t owe payment this year but we’re required to file a form and possibly make a larger payment in the year you moved out.  Post more details and we can help you further.  

formanp
New Member

I am trying to update the home buyer credit section, however it is not working to adjust my 1040 it keeps resetting to the original answer. Can you please help?

Yes, the home was sold in 2016. I also went through a divorce and my ex received the credit on her social. When I log into the irs site, it says I do not owe anything. I never filed a 5405 form when the house sold because I was unaware that we even received the credit. The past few years I have paid the credit when it showed up. When I log in to the home buyer look up on irs site, it says I must contact a representative, however they are not taking calls due to corona. I would like to just amend my document and include the 250.00 payment on schedule 2, however it does not allow me. 

I am trying to update the home buyer credit section, however it is not working to adjust my 1040 it keeps resetting to the original answer. Can you please help?

You need to go back and file an amended tax return for 2016 that includes form 5405.  You will use that form to tell the IRS that you transferred full ownership to your ex in a divorce, that will also transfer responsibility for the credit to your ex.  If you get the amended 2016 return mailed before April 15, you will also get your 2016 payment of $250 refunded to you.  Then you can also file amended returns for 2017 and 2018 to request refunds of those $250 payments.  For 2019 you do not owe a $250 payment, but because the IRS database thinks you do, you need to print your tax return and file by mail.  

To give up and include another payment, run the interview for the credit repayment and answer that you still live in the home.  I’m sure your ex will appreciate you paying an extra $1000 of his or her debt for them.   I would rather keep my own money.  

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