What is the form used for?
- Notify the IRS that the home for which you claimed the credit was disposed of or ceased to be your main home.
- Figure the amount of the credit you must repay with your tax return.
Is the form Supported in our program? Yes, the 5405 form is supported in both the Desktop and Online platforms as part of the 1040 package.
How to access the form: In a return, use the Add Form function to add a new 5405 form to the return.
Limits to the form: This form is only available in the 1040 package. However, there is no limit to the number of copies you may have on a single return.
Repayment of the First-Time Homebuyer Credit
IRS Publication: https://www.irs.gov/forms-pubs/about-form-5405