Form 5405: Repayment of the First-Time Homebuyer Credit
Use Tax Form 5405: Repayment of the First-Time Homebuyer Credit as a stand alone tax form calculator to quickly calculate specific amounts for your 2023 tax return. Form 5405: Repayment of the First-Time Homebuyer Credit is also integrated into our comprehensive US Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.
Repayment of the First-Time Homebuyer Credit
Part I. Disposition or Change in Use of Main Home for Which the Credit Was Claimed
Check the box below that applies to you. See the instructions for the definition of “related person.”
The responsibility for repayment of the credit is transferred to your spouse or ex-spouse. Stop here.
Part II. Repayment of the Credit
Part III. Form 5405 Gain or (Loss) Worksheet
Note: Complete this part only if your home was destroyed or you sold your home to someone who isn't related to you (including a sale through condemnation or under threat of condemnation). See Pub. 523, Selling Your Home, for information on what to enter on lines 9, 10, and 12. But if you sold your home through condemnation, see chapter 1 in Pub. 544, Sales and Other Dispositions of Assets, for information on what to enter on lines 9 and 10.
Tip: use the US Tax Calculator to edit your refundable and non-refundable tax credits including Form 5405: Repayment of the First-Time Homebuyer Credit . Complete, Calculate, print and or save your tax calculation for later use.