Instructions For Form 5405 - 2009 (Page 4 of 4) in pdf

Line 5. Your modified adjusted gross income is the amount

Line 13h. Do not check this box if you are filing a joint return

from Form 1040, line 38, increased by the total of any:

for 2009 with the deceased taxpayer and you claimed the credit

•

Exclusion of income from Puerto Rico, and

on a joint return. If you did not dispose of the home and the

•

Amount from Form 2555, lines 45 and 50; Form 2555-EZ,

home did not cease to be your main home, do not check any

line 18; and Form 4563, line 15.

box on line 13. If you did dispose of the home or it ceased to be

your main home, check the appropriate box on lines 13a

Part III. Disposition or Change of Main

through 13g. (These instructions also apply if you are not filing

a joint return with the deceased taxpayer for 2009.)

Home for Which the Credit Was Claimed

Part IV. Repayment of Credit Claimed for

Complete Part III if you claimed the first-time homebuyer credit

on your original or amended 2008 return and you disposed of

2008

the home or it ceased to be your main home in 2009. This

includes situations where:

•

If you purchased the home in 2008 and you owned it

You sold the home,

•

and used it as your main home during all of 2009 and

You converted the entire home to business or rental property,

•

2010, repayment of the credit over a 15-year period will

You abandoned the home,

CAUTION

•

begin with your 2010 return. Do not file Form 5405 for 2009.

The home was destroyed, condemned, or disposed of under

Instead, you will have to file the 2010 revision of Form 5405

threat of condemnation,

•

with your 2010 Form 1040.

The lender foreclosed on the mortgage, or

•

The taxpayer who claimed the credit died in 2009.

If you are required to repay the credit because you disposed

Also complete Part III if you are claiming the credit on your

of a home you purchased in 2008 or that home ceased to be

2009 return and line 12, 13f, 13g, or 13h applies.

your main home, you generally must repay the credit with your

2009 tax return. An exception applies if your home was

Line 12. Check the box if you (or your spouse if married):

•

destroyed, condemned, or disposed of under threat of

Are a member of the uniformed services or Foreign Service

condemnation, and you did not acquire a new main home within

or an employee of the intelligence community (defined on page

2 years of the event. In that case, you repay the credit with the

3), and

•

tax return for the year in which the 2-year period ended.

Sold the home or the home ceased to be your main home

Another exception applies for certain members of the uniformed

after 2008 because you (or your spouse if married) received

services or Foreign Service or employees of the intelligence

Government orders to serve on qualified official extended duty

community (see the instructions for line 12 on this page).

(defined below).

If you (or your spouse if married) meet both of these conditions,

Line 14. If you claimed the credit on a joint return for 2008 but

you do not have to repay the credit.

your spouse died, enter one-half of the credit you claimed on

Form 5405 for 2008. The remaining half (that is, your spouse’s

Qualified official extended duty. You are on qualified

half) does not have to be repaid. If you and your spouse

official extended duty while:

•

claimed the credit for 2008 and the home was later transferred

Serving at a duty station that is at least 50 miles from your

to you as part of a divorce settlement, enter the total credit

main home, or

•

claimed for 2008 by both you and your ex-spouse.

Living in Government quarters under Government orders.

You are on extended duty when you are called or ordered to

Line 15. See Pub. 523 for information on how to figure the

active duty for a period of more than 90 days or for an indefinite

gain on the sale of your main home.

period.

Paperwork Reduction Act Notice. We ask for the information

Lines 13a, 13b, and 13c. See item 9 under Who Cannot

on this form to carry out the Internal Revenue laws of the United

Claim the Credit on page 2 for the definition of a related person.

States. You are required to give us the information. We need it

If the person does not meet the definition of a related person,

to ensure that you are complying with these laws and to allow

that person is not related to you.

us to figure and collect the right amount of tax.

Line 13d. Do not check this box or file this form if you

You are not required to provide the information requested on

converted only a part of the home to rental or business use and

a form that is subject to the Paperwork Reduction Act unless

you continue to use the other part as your main home. If you

the form displays a valid OMB control number. Books or

purchased your home in 2008, repayment of the credit over a

records relating to a form or its instructions must be retained as

15-year period will begin with your 2010 tax return. If you

long as their contents may become material in the

purchased your home in 2009, see Repaying the Credit (for

administration of any Internal Revenue law. Generally, tax

Purchases After 2008) on page 2 for when you may have to

returns and return information are confidential, as required by

repay the credit.

section 6103.

Line 13f. If you purchased the home in 2009 (or a later year),

The average time and expenses required to complete and

you do not have to repay the credit if you acquire a new main

file this form will vary depending on individual circumstances.

home within 2 years of the event and you own and use it as

For the estimated averages, see the instructions for your

your main home during the remainder of the 36-month period.

income tax return. If you have comments concerning the

Line 13g. If you do not acquire a new home within the 2-year

accuracy of these time estimates or suggestions for making this

period, the following rules apply.

form simpler, we would be happy to hear from you. See the

•

If you purchased the home in 2008, you must include all

instructions for the tax return with which this form is filed.

remaining installments as additional tax on the tax return for the

year in which the 2-year period ends.

•

If you purchased the home in 2009 (or a later year), you must

include the credit as additional tax on the tax return for the year

in which the 2-year period ends.

-4-

Instructions for Form 5405 (2009)

Instructions For Form 5405 - 2009 Page 4

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