Form 5405, Repayment of First-Time Homebuyer Credit Instructions
This form contains 25 fields organized into 6 sections. Below is a complete list of every field, its type, and what information is expected.
| Field Name | Type | Description |
|---|---|---|
| Credit Information | ||
| 4 | Text |
Enter the amount of the First-Time Homebuyer Credit you received.
|
| 13 Enter the first-time homebuyer credit claimed on Form 5405 minus the amount of the credit you repaid with your tax returns for the years 2010 through 2022. 13 | Text |
Enter the amount of the First-Time Homebuyer Credit claimed on Form 5405, minus the amount of the credit you repaid with your tax returns for the years 2010 through 2022.
|
| Form Calculations | ||
| 5 5 | Text |
Enter the value from line 5 of the form.
|
| Subtract line 5 from line 4. If you checked the box on line 3f or 3g, see instructions. If you checked the box | Text |
Subtract the value on line 5 from the value on line 4. If you checked the box on line 3f or 3g, refer to the instructions for additional guidance.
|
| 7 7 Enter the gain on the disposition of your main home (from line 15 below) | Text |
Enter the gain on the disposition of your main home, which can be found on line 15 below.
|
| 9 | Text |
Enter the value for line 9.
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| 10 | Text |
Enter the value for line 10.
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| 11 Subtract line 10 from line 9. This is the amount realized on the sale of the home 11 | Text |
Subtract the value on line 10 from the value on line 9. This is the amount realized on the sale of the home.
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| 14 14 15 Subtract line 13 from line 12. This is the adjusted basis for purposes of repaying the credit Subtract line 14 from line 11 15 15 | Text |
Subtract the value on line 13 from the value on line 12. This is the adjusted basis for purposes of repaying the credit. Then, subtract the value on line 14 from the value on line 11.
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| 1155 | Text |
Enter the value for line 1155.
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| Home Disposition | ||
| topmostSubform[0].Page1[0].c1_1[0]_1 | CheckBox |
Check this box if you sold the home to someone who is not related to you.
|
| topmostSubform[0].Page1[0].c1_2[0]_1 | CheckBox |
Check this box if you sold the home to someone who is related to you.
|
| topmostSubform[0].Page1[0].c1_2[1]_2 | CheckBox |
Check this box if you converted the home to a rental or business use.
|
| topmostSubform[0].Page1[0].c1_2[2]_3 | CheckBox |
Check this box if you still own the home but it is no longer your main home.
|
| topmostSubform[0].Page1[0].c1_2[3]_4 | CheckBox |
Check this box if you transferred the home to your spouse or ex-spouse as part of a divorce settlement.
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| topmostSubform[0].Page1[0].c1_2[4]_5 | CheckBox |
Check this box if the home was destroyed, condemned, or you disposed of it under threat of condemnation.
|
| topmostSubform[0].Page1[0].f1_04[0 | Text |
Enter the date you sold or stopped using the home as your main home.
|
| topmostSubform[0].Page1[0].c1_2[5]_6 | CheckBox |
Check this box if you sold the home through a short sale.
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| topmostSubform[0].Page1[0].c1_2[6]_7 | CheckBox |
Check this box if you transferred the home to a trust.
|
| topmostSubform[0].Page1[0].c1_2[7]_8 | CheckBox |
Check this box if you disposed of the home in another way not listed above.
|
| Home Sale Information | ||
| 12 12 Adjusted basis of home sold (see instructions) | Text |
Enter the adjusted basis of the home sold. Refer to the instructions for detailed information on how to calculate this.
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| Personal Information | ||
| topmostSubform[0].Page1[0].f1_01[0 | Text |
Enter your name as it appears on your tax return.
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| Your social security number | Text |
Enter your social security number. This should be a 9-digit number without dashes.
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| topmostSubform[0].Page1[0].f1_03[0 | Text |
Enter your spouse's social security number if applicable. This should be a 9-digit number without dashes.
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| Repayment Information | ||
| 8 Amount of the credit to be repaid. See instructions | Text |
Enter the amount of the First-Time Homebuyer Credit that needs to be repaid. Refer to the instructions for detailed information.
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