If you claimed the First-Time Homebuyer Credit for a home purchased in 2008, you may remember making annual repayments with your tax return. That repayment period has now ended.
For IRS purposes, tax year 2024 was the final year Form 5405 could be filed and the last year of the required 15-year repayment schedule. As a result, Form 5405 is not available for 2025, 2026, or later tax years.
Can I File Form 5405 With My 2026 Tax Return?
You cannot file Form 5405 with a 2026 tax return. The repayment period for the 2008 First-Time Homebuyer Credit ended after the 2024 tax year, and Form 5405 is no longer used for tax years 2025 and later.
What If I Sold My Home, Converted It to a Rental, or Moved Out in 2026?
If you previously claimed the First-Time Homebuyer Credit and sold the home, converted it to a rental property, or otherwise stopped using it as your main home during 2026, you do not file Form 5405.
The IRS only required Form 5405 for reporting these events through tax year 2024.
Why Don't I See a First-Time Homebuyer Credit Repayment Section in the Program for 2026?
Because the repayment period has ended.
For 2026 returns, our software does not include a First-Time Homebuyer Credit repayment section and does not generate Form 5405.
Need to File or Amend a 2022, 2023, or 2024 Return?
If you are working on a supported prior-year return and you purchased your home in 2008, you may still need to complete the First-Time Homebuyer Credit section if, during that tax year, you:
- Sold or otherwise disposed of the home
- Converted the home to a rental property
- Stopped using the home as your main home
The program will automatically create Form 5405 when required based on your entries.
Where to Enter the Information
- Go to Federal.
- Select Other Taxes.
- Select Repayment of First-Time Homebuyer Credit.
Enter the requested information about the home and the date the property was sold, converted to rental use, or ceased being your main home. The program will determine whether Form 5405 is required and generate it automatically.
Married Filing Jointly
If you originally claimed the credit on a joint return, each spouse is generally treated as having received one-half of the credit. When Form 5405 is required, each spouse reports repayment based on their share of the credit.
Don't Know Your Credit Information?
If you need details about the original credit amount or prior repayments, review your IRS account records or any prior-year tax returns that included the First-Time Homebuyer Credit.
Additional Information
Form 5405 is only relevant for taxpayers filing or amending returns for tax years when the form was still in effect. For current-year returns (2025 and later), no Form 5405 filing or annual repayment is required because the repayment period for the 2008 First-Time Homebuyer Credit has expired.