Kuva 5405 Ohjeita
Form 5405, First-Time Home Buyer -luottolainan takaisinmaksu
Rev marraskuu 2023
Liittyvät lomakkeet
- Kuva 5405 - Ensimmäistä kertaa kotiostajan luotto
Department of the Treasury
Internal Revenue Service
Instructions for Form 5405
Repayment of the First-Time Homebuyer Credit
(Rev. November 2023)
Section references are to the Internal Revenue Code unless
otherwise noted.
credit in excess of the gain doesn't have to be repaid. (See
Related Persons, later.)
Transfer to spouse or ex-spouse. If the home was
transferred to a spouse (or ex-spouse as part of a divorce
settlement), the spouse who received the home is
responsible for repaying the credit (regardless of whether he
or she was the purchaser) if none of the other exceptions
apply.
Future Developments
For the latest information about developments related to
Form 5405 and its instructions, such as legislation enacted
Person who claimed the credit dies. If a person who
claimed the credit dies, repayment of the remaining balance
of the credit isn't required unless the credit was claimed on a
joint return. If the credit was claimed on a joint return, then the
surviving spouse is required to continue repaying his or her
half of the credit (regardless of whether he or she was the
purchaser) if none of the other exceptions apply.
Reminder
Repayment requirement. The repayment requirement has
expired for homes purchased after 2008. The repayment
requirement continues to apply to homes purchased in 2008.
General Instructions
Related Persons
Purpose of Form
Related persons include the following.
Use Form 5405 to do the following.
1. Your spouse, ancestors (parents, grandparents, etc.),
Notify the IRS that the home you purchased in 2008 and
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or lineal descendants (children, grandchildren, etc.).
for which you claimed the credit was disposed of or ceased to
be your main home in 2023. Complete Part I and, if
applicable, Parts II and III.
2. A corporation in which you directly or indirectly own
more than 50% in value of the outstanding stock of the
corporation.
Figure the amount of the credit you must repay with your
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3. A partnership in which you directly or indirectly own
2023 tax return. Complete Part II and, if applicable, Part III.
more than 50% of the capital interest or profits interest.
Who Must File
For more information about related persons, see the
discussion under Nondeductible Loss in chapter 2 of Pub.
544, Sales and Other Dispositions of Assets. When
determining whether you acquired your main home from a
related person, family members in that discussion include
only the people mentioned in (1) above.
You must file Form 5405 with your 2023 tax return if you
purchased your home in 2008 and you meet either of the
following conditions.
1. You disposed of it in 2023.
2. You ceased using it as your main home in 2023.
Specific Instructions
In all other cases, you aren't required to file Form 5405.
Instead, enter the repayment on 2023 Schedule 2 (Form
1040), line 10. For example, you aren't required to file Form
5405 if you are making an installment payment of the credit
you claimed for a home you purchased in 2008, and you
owned and used the home as your main home during all of
2023.
Credit claimed on a joint return. If you and your spouse
claimed the credit on a joint return, each spouse is treated as
having been allowed half of the credit for purposes of
repaying the credit. Each spouse who meets either condition
1 or 2 above must file a separate Form 5405.
Part I. Disposition or Change in Use
of Main Home for Which the Credit
Was Claimed
Complete Part I if you claimed the first-time homebuyer credit
for a home purchased in 2008 and either you disposed of the
home or it ceased to be your main home in 2023. This
includes situations where:
You sold the home (including through foreclosure);
You converted the entire home to business or rental
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property;
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You abandoned the home (except in connection with a sale
Exceptions
or foreclosure);
The home was destroyed, condemned, or disposed of
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The following are exceptions to the repayment rule.
under threat of condemnation; or
The taxpayer who claimed the credit died in 2023.
Condemnation or threat of condemnation. If the home is
destroyed, or you sell the home through condemnation or
under threat of condemnation to someone who isn't related to
you and you don't acquire a new home within the 2-year
period, the repayment with your return for the year in which
the 2-year period ends is limited to the gain on the disposition
as determined in Part III of Form 5405. The amount of the
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Sales (including through foreclosure). In the case of a
sale (including through foreclosure) of your main home, you
must repay the credit with the tax return for the tax year in
which the sale is completed. In general, this will occur when
the purchaser (or lender) obtains title to your home.
Aug 1, 2023
Cat. No. 54378F
Any of the elements of the Department of Homeland
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Name and social security number. Enter your name and
social security number. Each spouse who meets condition 1
5405. Each spouse must enter only his or her name and
social security number on his or her separate Form 5405.
This is true whether a joint return or separate returns are filed.
Line 1. If your home was destroyed or condemned, or you
disposed of the home under threat of condemnation, enter
the date it was destroyed, condemned, or disposed of under
threat of condemnation (or the date it ceased to be your main
home, whichever is earlier).
Security concerned with the analyses of foreign intelligence
information.
Lines 3a, 3b, and 3c. If you sold your home to someone
who isn't related to you, complete Part III to figure the gain or
(loss) on the sale. (The person isn't related to you if he or she
The repayment is limited to the amount of gain. The amount
of the credit in excess of the gain doesn't have to be repaid.
your entire home to business or rental use.
Line 2. Check the box if you (or your spouse, if married):
Don't check this box if you converted only a part of the
home to rental or business use and you continue to use the
other part as your main home. Don't file Form 5405 for this
conversion. Enter your annual repayment on your 2023
Schedule 2 (Form 1040), line 10.
Example 1. You claimed the credit for a home you
purchased in 2008. In January 2023, you converted the
basement of your home for use as a child care business. You
continued to use the rest of your home as your main home in
2023. You are required to repay at least one-fifteenth (1/15) of
the credit with your 2023 return. You don't have to file Form
5405. Instead, enter the repayment on your 2023 Schedule 2
(Form 1040), line 10.
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community (defined below); and
Sold the home or the home ceased to be your main home
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after 2008 because you (or your spouse, if married) received
U.S. Government orders to serve on qualified official
extended duty (defined next).
If you (or your spouse, if married) meet both of these
conditions, you (and your spouse, if married) don't have to
repay the credit.
Qualified official extended duty. You are on qualified
official extended duty while:
Serving at a duty station that is at least 50 miles from your
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Example 2. You claimed the credit for a home you
purchased in 2008. In January 2023, you moved out of the
home and converted it to rental property. You must check the
box on line 3d and complete Part II. In this case, you must
repay the balance of the credit with your 2023 tax return.
main home, or
Living in U.S. Government quarters under U.S.
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Government orders.
You are on extended duty when you are called or ordered to
active duty for a period of more than 90 days or for an
indefinite period.
When you convert your entire home to business or
Uniformed services. The uniformed services are:
rental use, you no longer use any part of it as your
main home. The home is used for business if you use
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The Armed Forces (the Army, Navy, Air Force, Marine
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Corps, and Coast Guard),
it for an activity that you carry on to make a profit. The facts
and circumstances of each case determine whether or not an
activity is a business.
The commissioned corps of the National Oceanic and
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Atmospheric Administration, and
The commissioned corps of the Public Health Service.
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Line 3e. Check the box on line 3e if you meet either of the
Foreign Service member. For purposes of the credit, you
following conditions.
are a member of the Foreign Service if you are any of the
following.
You transferred the home to your spouse.
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You and your spouse divorced and you transferred the
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A Chief of mission.
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home to your ex-spouse as part of the divorce settlement.
Include the full name of your ex-spouse in the space
provided.
An Ambassador at large.
A member of the Senior Foreign Service.
A Foreign Service officer.
Part of the Foreign Service personnel.
Employee of the intelligence community. For purposes
The spouse who received the home is responsible for
repaying the credit under the rules provided in these
instructions.
of the credit, you are an employee of the intelligence
community if you are an employee of any of the following.
Lines 3f and 3g—Home destroyed or sold through con-
demnation or under threat of condemnation. If your
home was destroyed or you sold your home through
condemnation or under threat of condemnation to a person
who isn't related to you, the amount of the credit you have to
repay (if any) is limited to the gain on the disposition.
Complete Part III to determine whether you have a gain.
Check the box on line 3f if you have a gain. If you don't have
a gain, you don't have to repay any of the credit. Check
the box on line 3g if you don't have a gain. Then read the
instructions below for line 3f or line 3g, whichever applies.
Line 3f. If you acquired or plan to acquire a new home
within 2 years of the event, you must generally continue to
repay the credit over a 15-year period that began with your
2010 tax return. Complete Part II to figure your installment
payment for 2023 if the event wasn't a sale to a related
The Office of the Director of National Intelligence.
The Central Intelligence Agency.
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The National Security Agency.
The Defense Intelligence Agency.
The National Geospatial-Intelligence Agency.
The National Reconnaissance Office and any other office
within the Department of Defense for the collection of
specialized national intelligence through reconnaissance
programs.
Any of the intelligence elements of the Army, the Navy, the
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Air Force, the Marine Corps, the Federal Bureau of
Investigation, the Department of the Treasury, the
Department of Energy, and the Coast Guard.
The Bureau of Intelligence and Research of the
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Department of State.
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Instructions for Form 5405 (Rev. 11-2023)
If you don't acquire a new home within the 2-year period,
the following rules generally apply.
If you and your spouse claimed the credit on a joint
return, each spouse is treated as having been
allowed half of the credit for purposes of repaying the
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If the event occurred in 2021, you must generally repay the
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balance of the credit in full with your 2023 return. You don't
have to file Form 5405. Instead, enter the repayment on your
2023 Schedule 2 (Form 1040), line 10.
credit. 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.
If the event occurred after 2021, your annual repayment
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Line 4. If you claimed the credit on a joint return but your
spouse died, enter one-half (1/2) of the credit you claimed.
The remaining half (that is, your spouse's half) doesn't have
to be repaid. If you and your spouse claimed the credit and
the home was later transferred to you by your spouse (or
ex-spouse as part of a divorce settlement), enter the total
credit claimed by both you and your spouse (or ex-spouse).
Enter the credit you claimed for a home that was
destroyed or that you sold through condemnation or under
threat of condemnation.
Line 6. If you checked the box on line 3f and the event
line 7.
If you checked the box on line 3f or line 3g and the event
and go to line 8.
requirement continues until the year in which the 2-year
period ends. On the tax return for the year in which the 2-year
period ends, you must include all remaining installments as
an increase in tax. Note that since the 15-year repayment
period for homes purchased in 2008 began with your 2010
tax return and ends with your 2024 tax return, the last
possible year of repayment will be for 2024. Therefore, if the
2-year period ends after 2024, you will not have any
remaining installments due as your balance will be fully paid
off with your 2024 tax return.
Line 3g. If you don't have a gain, you don't have to repay
any of the credit, unless you sold your home under threat of
condemnation to someone who is related to you. If the buyer
is related to you, the rules explained above for line 3f apply,
except that you must repay the entire amount of the credit
you claimed if you didn't acquire a new home within the
2-year period. This is true even if you had a loss on the sale.
Line 7. If any of the following conditions apply, enter on
Line 3h. If you are filing a joint return for 2023 with the
deceased taxpayer, complete Form 5405 with the deceased
taxpayer's information only. Check box 3h and file the form
with your joint return. The deceased taxpayer need not repay
the credit in 2023 or any later year.
line 7 the gain from line 15.
You checked the box on line 3a.
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You checked the box on line 3f and the event wasn't a sale
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If neither of the above conditions apply, leave line 7 blank.
If you claimed the credit on a joint return with the
deceased taxpayer, the following rules also apply.
Line 8. Read the following to determine the amount to enter
1. If you didn't dispose of the home and the home didn't
cease to be your main home, don't complete a separate
Form 5405 with your information.
2. If you disposed of the home or the home ceased to be
your main home, complete a separate Form 5405 with your
information only. Check the appropriate box on lines 3a
through 3g and file the form with your joint return.
on line 8.
1. If you checked the box on line 3a, enter the smaller of
line 6 or line 7 on line 8.
2. If you checked the box on line 3c or line 3d, enter the
amount from line 6 on line 8.
3. If you checked the box on line 3f or line 3g, the
following rules apply.
Note. If you originally claimed the credit on a joint return,
instructions 1 and 2 above apply even if you aren't filing a
joint return with the deceased taxpayer for 2023.
a. If you checked the box on line 3f for an event that
occurred in 2023 and you didn't sell the home to a related
person (defined earlier), your repayment is limited to the gain.
If line 7 is less than line 6, divide line 7 by 2.0. Otherwise,
divide line 4 by 15.0. This is the minimum amount you must
repay with your 2023 return. Enter this amount (or a larger
amount if you choose) on line 8. But see Repaying more than
the minimum amount below.
b. If you checked the box on line 3f or line 3g for an event
that occurred in 2023 and you sold the home to a related
person (defined earlier), divide line 4 by 15.0. This is the
minimum amount you must repay with your 2023 return.
Enter this amount (or a larger amount if you choose) on
line 8. But see Repaying more than the minimum amount
below.
c. If you don't repay your credit earlier, you continue to
repay the amount described above with your 2024 tax return.
But see (d) next for an exception.
d. If you don't acquire a new main home within 2 years of
the event, (c) above doesn't apply. Instead, you must include
any remaining installments as an increase in tax on the tax
return for the year in which the 2-year period ends.
Part II. Repayment of the Credit
If you owned the home and used it as your main home during
all of 2023, you must continue repaying the credit with your
2023 tax return. You don't have to file Form 5405. Instead,
enter the repayment on your 2023 Schedule 2 (Form 1040),
line 10.
If you are required to repay the credit because you
disposed of a home you purchased, or that home ceased to
be your main home, you must generally repay the balance of
the unpaid credit with your 2023 tax return. An exception
applies if your home was destroyed or condemned, or you
disposed of the home under threat of condemnation, and you
didn't acquire a new main home within 2 years of the event.
exception applies for certain members of the uniformed
services or Foreign Service or employees of the intelligence
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Instructions for Form 5405 (Rev. 11-2023)
Since the 15-year repayment period for homes
purchased in 2008 began with your 2010 tax return
and ends with your 2024 tax return, the last possible
the credit ($7,500 ÷ 15 years = $500) each year for 15 years
starting with your 2010 tax return. However, you chose to
repay $700 with your 2010 tax return; you made the required
minimum payment of $500 with your 2011, 2012, 2013, 2014,
2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, and 2023
tax returns. The minimum repayment with your 2024 tax
return is $300 (the balance of unpaid installments)—not
$500.
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year of repayment for a home will be for 2024. Therefore, your
final payment for the situations described in both (c) and (d)
will be for 2024.
Repaying more than the minimum amount. You must
repay at least one-fifteenth (1/15) of the credit with every tax
return during the repayment period until the year the credit is
paid in full. You can choose to repay more than the minimum
amount with any tax return. Your final payment may be less
than the required minimum amount.
Part III. Form 5405 Gain or (Loss)
Worksheet
Line 12. Enter the amount from line 6 of Worksheet 2 in Pub.
Example. You claimed a $7,500 credit for a home
523.
purchased in 2008. You are required to repay at least $500 of
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Instructions for Form 5405 (Rev. 11-2023)