Repaying first time home buyer credit on our now rental

Yes, if you received the First Time Homebuyer Credit (FTHBC) and later converted the home entirely to a business or rental property, you must repay the full amount of the credit in the year the property was converted.

If you choose "stopped being my primary home" for the current year, TurboTax deletes Form 5405 because you should have repaid the FTHBC in a prior year. This is the correct choice if the answer is true.

How to correct this:

For the tax year in which you converted the home, you should have included Form 5405 and attached it to your federal tax return. This form tells the IRS that you converted the home and allows you to repay the unpaid balance of the credit. You add the amount of FTHBC you still owe as an increase to tax on your federal tax return. The amount may reduce your refund or increase the amount of tax you owe.  

If you did not include Form 5405 with the tax return for the year you converted the property to a rental, you will need to file an amended return.

See the instructions below for amending a prior year return:

https://ttlc.intuit.com/replies/3288565

For more info, see IRS First-Time Homebuyer Credit

You can lookup the status of your FTHBC account here: First Time Homebuyer Credit Account Look-up