If you already e-filed your income tax return, you can't go back in and update your 2008 home buyer credit. Once the IRS processes your return, you'll need to amend it. See How to amend (change or correct) a return you already filed?If you're still working on your return, delete the form and go through the TurboTax interview again to change your answer. See How do I add or remove Form 5405 for the first-time homebuyer credit? Form 5405 (Repayment of the First-Time Homebuyer Credit) figures the repayment amount (actually, an additional tax) for the 2008 First-Time Homebuyer Credit. The 5405 is also used to notify the IRS that the home was disposed of or ceased to be your main home. You'd have to repay the credit ahead of schedule, in part or in full, if: You turn the home into a rental or began using it for business, rather than as your primary residence. You sell the home to a related person, defined as your spouse, your ancestors (parents and grandparents), or lineal descendants (children and grandchildren), as well as your spouse's ancestors or lineal descendants. You sell (or give up the home in foreclosure) to a non-related person and profited from the sale. Your home is destroyed and you don't plan to acquire another one within two years of the event. You must include all remaining installments as additional tax on the tax return for the year in which the two-year period ends. If your home is destroyed and you acquire (or plan to acquire) another main home within two years of the catastrophe, you'll continue to repay the installments as if nothing happened.

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Why can't I update one of my answers (specifically 2008 home buyer credit)

Forum|Forum|5 years ago
April 7, 2021
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HelenC12

If you already e-filed your income tax return, you can't go back in and update your 2008 home buyer credit. Once the IRS processes your return, you'll need to amend it.

See How to amend (change or correct) a return you already filed?

If you're still working on your return, delete the form and go through the TurboTax interview again to change your answer.

See How do I add or remove Form 5405 for the first-time homebuyer credit?

Form 5405 (Repayment of the First-Time Homebuyer Credit) figures the repayment amount (actually, an additional tax) for the 2008 First-Time Homebuyer Credit. The 5405 is also used to notify the IRS that the home was disposed of or ceased to be your main home.

You'd have to repay the credit ahead of schedule, in part or in full, if:

You turn the home into a rental or began using it for business, rather than as your primary residence.
You sell the home to a related person, defined as your spouse, your ancestors (parents and grandparents), or lineal descendants (children and grandchildren), as well as your spouse's ancestors or lineal descendants.
You sell (or give up the home in foreclosure) to a non-related person and profited from the sale.
Your home is destroyed and you don't plan to acquire another one within two years of the event. You must include all remaining installments as additional tax on the tax return for the year in which the two-year period ends.
- If your home is destroyed and you acquire (or plan to acquire) another main home within two years of the catastrophe, you'll continue to repay the installments as if nothing happened.

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