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February 7, 2020
Question

5405 after divorce

  • February 7, 2020
  • 1 reply
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Turbotax is giving me an issue because I'm filing single, but my 5405 shows that the credit was originally received by both. We received the credit while filing jointly, but I kept the house after the divorce.

1 reply

KathrynG3
February 7, 2020

I recommend first, getting out last year's tax return with Form 5405 details before proceeding to make sure you have the accurate input for this year.

 

To update TurboTax, I suggest re-entering Form 5405. 

  1. First, delete the current Form 5405: From the left menu, Tax Tools>Tools>Delete a Form>Scroll to Form 5405.
  2. next, clear your cache & cookies with these steps:
    1. Clearing your cache and cookies (the link describes the specific steps for different browsers)
      • Sign out of TurboTax
      • In general, hold down Ctrl+Shift+Del. Under the Basic tab, clear data for at least 24 hours, but preferably 7 days
      • Close your browser window
      • Re-open TurboTax, preferably in Chrome
  3. Re-enter the details in full. Form 5405 is not split between spouses, but only goes to the person living in the home.​​​​​​​

Per Form 5405 Repayment of First-Time Homebuyer Credit Instructions on page one, top of column two:

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.