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This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Credits

Repayment of first-time homebuyer credit

Use the
5405
 screen in the
Taxes
 folder to complete Form 5405. UltraTax CS will complete repayment on Form 5405, Repayment of the First-time Homebuyer Credit if:
  • The
    Date acquired
     is after April 8, 2008, and before January 1, 2009.
  • The purchase price is entered by the taxpayer.
  • The
    First-time homebuyer credit taken
     is entered (amount on 2008 Form 1040, line 69).
note
UltraTax CS will complete a First-Time Homebuyer Credit Worksheet with the 15-year repayment schedule.

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