Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, is now available from the Internal Revenue Service. This credit can be taken by both first-timers and those who owned a home for at least five consecutive years. (Form 5405 instructions are here, with all the details on eligibility.)


If you are claiming the first-time homebuyer's credit, remember to attach one of the following documents to your return:

  • A copy of the settlement statement (HUD-1) showing all parties' names and signatures, property address, sales price, and date of purchase. 
  • For mobile home purchasers who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties' names and signatures, property address, purchase price and date of purchase.
  • For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate. 
  • (Current homeowners only) Form 1098, Mortgage Interest Statement, property tax records, and homeowner's insurance records to prove you occupied your current home for at least five years.
The IRS won't start processing returns accompanied by Form 5405 until mid-February, and refunds may be delayed an extra two to three weeks.