Question

5405 Tax Form Question

Forum|Forum|7 years ago
June 4, 2019
1 reply
0 views

I chose the option that my home was no longer my main home as of December 31 2015 and it removed the form. I'm guessing that means that a repayment is no longer needed but I would like to make sure of that and I don't want to start my taxes all over again. Do I need to add it back or can I restart from where I signed in before?

TurboTax Deluxe Online

D

DianeW777

When the home ceases being your main home it triggers a full repayment that year (or forgiven in some circumstances) under no circumstances do you keep paying the next year. Whether there was a gain or loss on the home determines the amount to repay, if any.

More information can be found by using this link: First Time Homebuyer Credit Q&A

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"