Report, Add First-Time Homebuyer Credit to Return

Question:
How do I report repayment information for the First-Time Homebuyer Credit I claimed?

Article, Solution:

The IRS has record of taxpayers who owe repayments of the First-Time Homebuyer Credit. If you file your return without this information, this will result in a rejection from the IRS - not eFile.com. If you receive this rejection, see how to correct and re-eFile at no additional charge.

Before you begin:

• Open this page for the official IRS status of your credit repayment: https://sa.www4.irs.gov/irfof-fthb/login
• See details on the repayment of the First-Time Homebuyer Credit: https://www.irs.gov/taxtopics/tc611
• Learn if you need to repay the First-Time Homebuyer Credit: https://www.irs.gov/help/ita/do-i-need-to-repay-the-first-time-homebuyer-credit

Before filing your return, you should be asked about any repayments of this tax credit during the tax interview. Otherwise, see how to add the form and information below:

Step 1: Click Federal Taxes > Review > I'd like to see the forms I've filled out or search for a form > search for "first-time homebuyer" and click the + Add Form button next to the First-Time Homebuyer Credit Repayment and Sale of Primary Home form.

Step 2: Fill in all applicable information. The form requires basic home sale information, like the date you purchased the home, the date it was sold, and various costs associated with this the sale and upkeep of your home.

Step 3: If you are required to repay the credit, click the Form 5045 Repayment Information which will expand the form. Add the details here based on your records.

Step 3.1: If you are missing the information required, click the Homebuyers Credit Account Lookup link to find this information; this will bring you to this IRS link: https://sa.www4.irs.gov/irfof-fthb/notice

Step 4: Proceed with preparing and e-filing your return. If you have not yet filed, be sure your return is complete by going through each section and reviewing your return. If you are correcting an IRS rejection, you can click File and go through the eFile checkout process as you had previously and you will not be charged twice.