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March 6, 2024
Question

I had a filing error and have fixed it several times but I can't tell if its been fixed

  • March 6, 2024
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Reject Code S2-F1040-429

1 reply

March 6, 2024

The Reject Code S2-F1040-429 is due to the a First-Time Homebuyer Installment Payment due for the Spouse SSN. You will need to send a Form 5405 Repayment of the First-Time Homebuyer Credit with your return.  This form is used to calculate your repayment amount for the 2008 First-Time Homebuyer Credit. You can also file the 5405 Form if that home is no longer your main home. 

 

See the instructions below to enter Form 5405:

 

  1. Open or continue your return.
  2. On the left menu, select Federal, then Deductions & Credits.
  3. In the list, select the dropdown arrow next to Your Home.
  4. Select Start or Revisit next to 2008 Homebuyer Credit Repayment.
  5. On the Tell Us About Your Homebuyer Credit screen, answer Yes to the first question (it was still your main home on January 1, 2023).
    • Answer Yes to the second question (it stopped being your main home). Then select Continue and answer Yes on the next screen. You're done.
  6. Enter the purchase date and then select Continue.
  7. Follow the instructions.

Feel free to reach back if you continue having issues.