First Time Home Buyer Installment Payment

[doblanco]

First time client

I'm doing his income taxes and it wont go thru because they wnt wht is called 

First Time Home Buyer Installment Payment is due for the primary SSN

My client refinance his home that he bought in 2008 

And refinance in 202

[dascpa]

2008 had a 15-year repayment of the First-Time Homebuyer Credit.  See Schedule 2 of the 1040, line 10.

[Just-Lisa-Now-]

I had a new client with this, I opened the 5405 and entered the $500 repayment amount in that worksheet, and it transferred it to the line of the return where it belongs.

[Frustrated-in-IL · Accepted solution]

I don't mean any disrespect to the original poster, but based on how the post is worded, it wouldn't surprise me if the original poster was in grade school in 2008 when that year's iteration of the first-time homebuyer credit was passed.

Sometimes, the institutional knowledge which comes with advancing age can be a good thing.

[Skylane]

2008 + 15 = 2023   Yippee.... we're done with this nonsense

[dascpa]

No you're not done.  First repayment was 2010.

You can look up the account at https://www.irs.gov/credits-deductions/individuals/first-time-homebuyer-credit-account-look-up 

[Just-Lisa-Now-]

one more year!

All my clients that had these paid them off early, just have this one new guy and one more year!