Do I need Form 5405?
You must file Form 5405 with your 2019 tax return if you purchased your home in 2008 and you meet either of the following conditions.
- You disposed of it in 2020
- You ceased using it as your main home in 2020
- The program will automatically create the form based on your entries (home disposed of)
If the repayment is being reported on a joint return, each spouse is responsible for one half of the credit received. Therefore, each spouse must report repayment for one half of the credit.
Use the IRS First Time Homebuyer Credit Account Look-up to get account information such as the total amount of your credit or your repayment amount.