First-Time Homebuyer Credit Repayment

Some individuals took advantage of legislation passed by congress which established a First-Time Homebuyer Credit for 2008, 2009, and 2010. This credit has to be re-paid over a period not to exceed 15-years.

For a summary of the repayment criteria and exceptions, refer to this IRS page.

When filing tax returns, use From 5405 for repayment.

Instructions for Form 5405.