If you claimed the First-Time Homebuyer Credit for a home purchased in 2008, you may still have been required to repay the credit over time.
Tax year 2024 was the last year Form 5405 was supported. Tax year 2025, 2026, and later returns do not support Form 5405 or First-Time Homebuyer Credit repayment reporting.
Where Do I Enter Form 5405?
For tax years 2022, 2023, and 2024:
- Go to Federal
- Select Other Taxes
- Select Repayment of First-Time Homebuyer Credit (Form 5405)
- Choose the taxpayer the form applies to.
- Complete the repayment or disposition information.
How Do I Report an Annual Repayment?
Enter:
- The original First-Time Homebuyer Credit received.
- The total amount repaid on prior tax returns.
The program will automatically calculate the repayment due for the year.
Married Filing Jointly
Each spouse must complete a separate Form 5405 entry and report one-half of the required repayment.
For example, if the total repayment is $500, each spouse reports $250.
How Do I Report a Sale or Other Change in Use?
If the home stopped being your main home during the year, enter:
- The date the home ceased being your primary residence.
- The reason for the change, such as:
- Sale
- Foreclosure
- Conversion to rental property
- Transfer of ownership
- Destruction of the home
- Any other change in use
If the change occurred due to qualified military orders, indicate that when prompted.
I Don't Know My Original Credit Amount or Repayment History
The IRS First-Time Homebuyer Credit Account Look-Up tool is no longer available.
If you're unsure of:
- The original credit amount claimed,
- The amount repaid on prior returns, or
- Your remaining balance,
you'll need to use your own records, such as:
- Prior-year tax returns
- Copies of Form 5405 from previous years
- IRS notices or correspondence related to the credit
- Other tax documents showing the original credit and repayments
These records can help you determine the original credit amount, how much has already been repaid, and any remaining balance.