Form 5405 - First-Time Homebuyer Credit And Repayment Of The Credit Page 3
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45405
First-Time Homebuyer Credit and
OMB No. 1545-0074
Form
Repayment of the Credit
(Rev. December 2009)
Attach to Form 1040 or Form 1040X.
Attachment
Department of the Treasury
See separate instructions.
58
Sequence No.
Internal Revenue Service
Name(s) shown on return
Your social security number
Note. Skip Parts I and II and go to Part III on page 2 if you are only filing this form to report a disposition or change of your
main home for which you claimed the credit.
Part I
General Information
A
Address of home qualifying for the credit (if different from the address shown on page 1 of Form 1040 or Form 1040X)
B
Date purchased (MM/DD/YYYY) (see instructions)
Note. If the date purchased is before May 1, 2010, go to line E. Otherwise, go to line C.
C
If the date purchased is after April 30, 2010, and before July 1, 2010, did you enter into a binding contract before May 1,
2010, to purchase the home before July 1, 2010?
Yes. Go to line E.
No. You cannot claim the credit. However, if you are a member of the uniformed services or Foreign Service, or an
employee of the intelligence community, see line D. If line D applies, check the box on line D and continue; otherwise,
you cannot claim the credit.
D
If you meet the following conditions, check here
I (or my spouse if married) am a member of the uniformed services or Foreign Service, or an employee of the intelligence
community, and was on qualified official extended duty outside the United States for at least 90 days during the period
beginning after December 31, 2008, and ending before May 1, 2010. I purchased my home either (1) after November 30,
2009, and before May 1, 2011, or (2) after April 30, 2011, and before July 1, 2011, and entered into a binding contract before
May 1, 2011, to purchase the home before July 1, 2011.
E
Did you purchase the home from a related person or a person related to your spouse (see instructions)?
No. Go to line F.
Yes. You cannot claim the credit. Do not file Form 5405.
F
If you are choosing to claim the credit on your return for the year before the year in which you purchased the home,
check here (see instructions)
Part II
Credit
1
1
Enter the purchase price of the new home (see instructions)
2
2
Multiply line 1 by 10% (.10) and enter the result here
3
If you qualify for the credit as (check the applicable box):
A first-time homebuyer, enter $8,000 ($4,000 if married filing separately). A first-time
homebuyer is an individual (and that individual’s spouse if married) who has not owned another
main home during the 3-year period ending on the purchase date and meets other requirements
discussed in the instructions.
A long-time resident, enter $6,500 ($3,250 if married filing separately). A long-time resident
is an individual (and that individual’s spouse if married) who has owned and used the same
home as that individual’s main home for any 5-consecutive-year period during the 8-year
period ending on the purchase date of the new main home and meets other requirements
discussed in the instructions.
If someone other than a spouse also purchased an interest in the home, enter only your share
3
of this amount (see instructions)
4
4
Enter the smaller of line 2 or line 3
5
5
Enter your modified adjusted gross income (see instructions)
6
If the date purchased is:
Before November 7, 2009, enter $75,000 ($150,000 if married filing jointly), or
6
After November 6, 2009, enter $125,000 ($225,000 if married filing jointly)
7
Is line 5 more than line 6?
No. Skip lines 7 and 8. Enter -0- on line 9 and go to line 10.
Yes. Subtract line 6 from line 5 and enter the result. If the result is $20,000 or more, stop here.
7
You cannot take the credit. Otherwise, go to line 8
8
.
8
Divide line 7 by $20,000 and enter the result as a decimal (rounded to at least three places)
9
9
Multiply line 4 by line 8
10
Subtract line 9 from line 4 and enter the result. This is your credit. Also enter this amount on your 2009 Form
10
1040, line 67; 2008 Form 1040, line 69; or the appropriate line in the “Payments” section of Form 1040X
If you are claiming the credit on your 2009 (or later) tax return, you must attach certain documentation, such as a properly executed copy of the
settlement statement used to complete the purchase (see instructions). If you do not attach the documentation, the credit will be disallowed.
CAUTION
5405
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11880I
Form
(Rev. 12-2009)
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