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Cannot Claim the Credit on page 2 explains whether the

b. If you checked the box on line 13f or 13g for an

buyer is related to you.

event that occurred in 2011 and you sold the home to a

related person, divide line 14 by 15.0. This is the

If none of the above conditions apply, leave line 17

minimum amount you must pay with your 2011 return.

blank.

Enter this amount (or a larger amount if you choose) on

Line 18. The amount you enter on line 18 depends on

line 18. But see Repaying more than the minimum

when you purchased your home.

amount below.

Homes purchased in 2009 or a later year. Enter the

c. If you do not repay your credit earlier, you continue

smaller of line 16 or line 17 on line 18 if you meet either

to repay the amount described above with every tax

of the following conditions.

return for the next 13 years (2012 through 2024). But see

•

You checked the box on line 13a.

(d) next for an exception.

•

You checked the box on line 13f for an event that

d. If you do not acquire a new main home within 2

occurred in 2009, you did not acquire a new home within

years of the event, (c) above does not apply. Instead, you

2 years of the event, and the disposition was not a sale to

must include any remaining installments as additional tax

a related person.

on the tax return for the year in which the 2-year period

Enter the amount from line 16 on line 18 if you meet

ends.

either of the following conditions.

•

Repaying more than the minimum amount. If you

You checked the box on line 13c or 13d.

•

purchased your home in 2008, you must repay at least

You checked the box on line 13f or 13g for an event

1/15 of the credit with every tax return during the

that occurred in 2009, you did not acquire a new home

repayment period until the year the credit is paid in full.

within 2 years of the event, and the disposition was a

You can choose to repay more than the minimum amount

sale to a related person.

with any tax return. Your final payment may be less than

Homes purchased in 2008.

the required minimum amount.

1. If you checked the box on line 13a, enter the

Example. You claimed a $7,500 credit for a home

smaller of line 16 or line 17 on line 18.

purchased in 2008. You are required to repay at least

2. If you checked the box on line 13c or line 13d,

$500 of the credit ($7,500 ÷ 15 years = $500) each year

enter the amount from line 16 on line 18.

for 15 years starting with your 2010 tax return. However,

3. If you checked the box on line 13f or 13g, the

you chose to repay $3,200 with your 2010 tax return, you

following rules apply.

make the required minimum payment of $500 with your

a. If you checked the box on line 13f for an event that

2011 tax return, and you choose to repay $3,500 with

occurred in 2011 and you did not sell the home to a

your 2012 tax return. The minimum repayment with your

related person, your repayment is limited to the gain. If

2013 tax return is $300 (the balance of unpaid

line 17 is less than line 16, divide line 17 by 14.0.

installments)—not $500.

Otherwise, divide line 14 by 15.0. This is the minimum

amount you must pay with your 2011 return. Enter this

amount (or a larger amount if you choose) on line 18. But

see Repaying more than the minimum amount below.

-6-

Instructions for Form 5405 (Rev. 12-2011)

Instructions For Form 5405 - First-Time Homebuyer Credit And Repayment Of The Credit - 2011 Page 6

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