• Form 5405, First Time Homebuyer Loan and Loan Repayment, is a tax form distributed by the Internal Revenue Service (IRS).

  • Homeowners used it to receive a now defunct new or new home purchase tax credit between April 9, 2008 and September 30, 2010.
  • The allowable tax credit was 10% of the home’s purchase price, up to a maximum of $6,500-$8,000.
  • Form 5405 was revised in 2021 and is now used primarily by those who must repay the tax credit.