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Form 5405-2025

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The document is Form 5405, used by first-time homebuyers to claim a tax credit and report any repayment of that credit for homes purchased in 2008 or 2009. It includes sections for general information, credit calculation, and reporting changes in the use of the home. The form outlines eligibility criteria, credit amounts based on purchase price and income levels, and instructions for filing.

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Versions	Form popularity	Fillable & printable
2023	4.7 Satisfied (51 Votes)
2022	4.6 Satisfied (32 Votes)
2021	4.8 Satisfied (203 Votes)
2014	3.9 Satisfied (50 Votes)
2010	4.9 Satisfied (47 Votes)
2010	4 Satisfied (51 Votes)

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What is the IRS form 5405 used for?

Each of you must file a separate Form 5405 to notify the IRS that you disposed of the home or ceased to use it as your main home and figure the amount of the repayment.

What is the IRS form 5329 used for?

Use Form 5329 to report additional taxes on IRAs, other qualified retirement plans, modified endowment contracts, Coverdell ESAs, QTPs, Archer MSAs, or HSAs.

How do I qualify for first-time homebuyer tax credit in the IRS?

Tax Credit in General A first- time homebuyer is an individual who, with his or her spouse if married, has not owned any other principal residence for three years prior to the date of purchase of the new principal residence for which the credit is being claimed.

How do I add or remove form 5405 for the first-time homebuyer credit?

In the Your Home section select Start or Revisit next to Homebuyer Credit Repayment. On the Tell Us About Your Homebuyer Credit screen, answer Yes to the first question (it was still your main home on January 1, 2024). To delete an unwanted 5405, answer Yes to the second question (it stopped being your main home).

What is form 5405 for?

Use this form to: 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.

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Do I have to repay my 2008 first-time homebuyer credit?

Repayment of the credit. General repayment rules for 2008 purchases. If you were allowed the first-time homebuyer credit for a qualifying home purchase made between April 9, 2008, and December 31, 2008, you generally must repay the credit over 15 years.

Form 5405-2025

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What is the IRS form 5405 used for?

What is the IRS form 5329 used for?

How do I qualify for first-time homebuyer tax credit in the IRS?

How do I add or remove form 5405 for the first-time homebuyer credit?

What is form 5405 for?

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Do I have to repay my 2008 first-time homebuyer credit?

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