Yes, you claimed the 2008 Homebuyer Credit if Form 1040 (2008) line 69 shows a dollar amount.
Quick Fix:
Claimed the credit on your 2008 return? Check Form 1040, line 69 (2008 version). Did it in 2009 or 2010? Look for the “First-Time Homebuyer Credit” line on those returns. No entry? You didn’t claim it. If you did, you may still owe annual repayments through 2023 (for 2008 purchases) or owe nothing (for 2009–2010 purchases) if you kept the home as your main home for 36 months.
Yes, you claimed the 2008 Homebuyer Credit if Form 1040 (2008) line 69 shows a dollar amount.
Yes, you claimed the 2008 Homebuyer Credit if Form 1040 (2008) line 69 shows a dollar amount.
Think of the 2008 version as an interest-free loan—up to $7,500—that had to be repaid over 15 years starting with your 2010 tax return.1 The 2009 and 2010 versions? Those were actual refundable credits—up to $8,000 for homes purchased in 2009 and up to $8,000 for long-time residents who bought in 2010—and those didn’t require repayment as long as you kept the home as your main home for 36 months.2 Honestly, this is the best approach if you qualify.
Check your 2008, 2009, and 2010 Form 1040 returns for the “First-Time Homebuyer Credit” line.
Check your 2008, 2009, and 2010 Form 1040 returns for the “First-Time Homebuyer Credit” line.
Time to play detective. Grab your old tax returns—PDFs or paper copies—and pull out your Form 1040 for tax years 2008, 2009, and 2010.
On the 2008 Form 1040, look at line 69.
On the 2008 Form 1040, look at line 69.
Flip to your 2008 Form 1040 instructions. Line 69 was labeled “First-time homebuyer credit.” If that line has a number, you claimed it.
On the 2009 or 2010 Form 1040, look for the “First-Time Homebuyer Credit” line on the front page.
On the 2009 or 2010 Form 1040, look for the “First-Time Homebuyer Credit” line on the front page.
In those years, the credit showed up on the front page of Form 1040 under the same heading. See a dollar amount? You claimed it.
If you claimed the 2008 credit, check Schedule 2 (Form 1040), line 7b on your 2023 return.
If you claimed the 2008 credit, check Schedule 2 (Form 1040), line 7b on your 2023 return.
Grab your 2023 tax return if you claimed the 2008 credit. Look at Schedule 2 (Form 1040), line 7b. If that line shows an amount, you’re still making repayments.4
If you claimed the 2009 or 2010 credit and kept the home as your main home for 36 months, you owe nothing more.
If you claimed the 2009 or 2010 credit and kept the home as your main home for 36 months, you owe nothing more.
Claimed the credit in 2009 or 2010? You’re in the clear if you kept the home as your main home for 36 straight months starting with the purchase date.5
Order a free Tax Return Transcript or Account Transcript from IRS.gov to verify your status.
Order a free Tax Return Transcript or Account Transcript from IRS.gov to verify your status.
No paperwork handy? Order a free Tax Return Transcript or Account Transcript covering 2008–2010 from IRS.gov. The Account Transcript will show any unpaid repayments.6
Reopen your 2008–2010 tax files in the same software or a 2026-compatible version to check the “Homebuyer Credit” worksheet.
Reopen your 2008–2010 tax files in the same software or a 2026-compatible version to check the “Homebuyer Credit” worksheet.
Did you prepare your own returns back then? Reopen the file in the same software (or a compatible 2026 version) and check the “Homebuyer Credit” worksheet inside the program.7
Call the IRS Hotline at 1-800-829-1040 and ask for your “First-Time Homebuyer Credit Account Balance.”
Call the IRS Hotline at 1-800-829-1040 and ask for your “First-Time Homebuyer Credit Account Balance.”
Prefer to talk to someone? Call the IRS Hotline at 1-800-829-1040 and ask for a “First-Time Homebuyer Credit Account Balance.” Have your SSN and filing status ready.8
Keep digital and paper copies of every tax return from 2008 onward.
Keep digital and paper copies of every tax return from 2008 onward.
Keep digital and paper copies of every tax return you file from 2008 onward. The IRS can go back that far for this credit.9
Retain documents proving the home was your main residence in 2010–2023 if you claimed the 2008 credit.
Retain documents proving the home was your main residence in 2010–2023 if you claimed the 2008 credit.
Hold onto documents showing the home was your main residence in 2010–2023. A utility bill or driver’s license update can serve as proof.10
The final repayment installment for the 2008 credit is due November 1 each year.
The final repayment installment for the 2008 credit is due November 1 each year.
Still owe repayments on a 2008 credit? Mark November 1 each year on your calendar. That’s when the final installment is due.11
1 IRS, “First-Time Homebuyer Credit Account Look-up,” 2026.
2 IRS, “First-Time Homebuyer Credit for 2009 and 2010,” Rev. March 2026.
3 IRS Form 1040 Instructions, 2008 edition.
4 IRS, “Schedule 2 (Form 1040) Instructions,” 2023.
5 IRS, “Repayment of the Credit,” FAQ updated January 2026.
6 IRS, “Get Transcript,” 2026.
7 IRS Free File compatible software vendors, 2026.
8 IRS Telephone Assistance, 2026.
9 IRS Internal Revenue Manual, 25.1.1.10.1, 2025.
10 IRS First-Time Homebuyer Credit Q&A, 2026.
11 IRS Schedule 2 (Form 1040) Instructions, 2023 edition.
Do you pay back first time homebuyer credit?
With this credit, you have to repay the money over a period of 15 years, beginning with your 2010 return. ... The credit for 2009 and 2010 was not intended to be repaid. If you claimed a First-Time Homebuyer Credit in these years and that house remains your main home for 36 months, you do not have to repay the credit .
Do I have to pay back 2009 first time homebuyer credit?
The 2009 First Time Homebuyer’s Tax Credit is quite different from the one offered in 2008. One of the most important differences is that the 2009 tax credit does not have to be repaid . If you’re looking for homebuyer relief, the 2009 tax credit is quite an incentive to buy—even in a troubled housing market.
What happened to the first time homebuyer credit?
Example – You were allowed a $7,500 first-time homebuyer credit for 2008. You must repay the credit.
Do I have to file Form 5405 every year?
You don’t have to file Form 5405 . Instead, enter the repayment on your 2020 Schedule 2 (Form 1040), line 7b. requirement continues until the year in which the 2-year period ends. On the tax return for the year in which the 2-year period ends, you must include all remaining installments as an increase in tax.
Do I have to repay my 2008 first-time homebuyer credit?
Repayment of the Credit. General repayment rules for 2008 purchases. If you were allowed the first-time homebuyer credit for a qualifying home purchase made between April 9, 2008, and December 31, 2008, you generally must repay the credit over 15 years .
Do I have to repay the 2008 tax credit?
How Do I Repay the Credit? Essentially, if you claimed and received the one-time credit on your income tax return for 2008, you must repay the credit. It is repaid as an additional tax on your tax return, and you’ll be paying it back every year for a total of 15 years.
Do you get a tax refund for buying a house?
The first tax benefit you receive when you buy a home is the mortgage interest deduction , meaning you can deduct the interest you pay on your mortgage every year from the taxes you owe on loans up to $750,000 as a married couple filing jointly or $350,000 as a single person.
How Much Does owning a house help with taxes?
The main tax benefit of owning a house is that the imputed rental income homeowners receive is not taxed . Although that income is not taxed, homeowners still may deduct mortgage interest and property tax payments, as well as certain other expenses from their federal taxable income if they itemize their deductions.
How much do first time home buyers get back on taxes?
The First-Time Home Buyer’s Tax Credit is a $5,000 non-refundable tax credit . If you’re buying a home for the first time, claiming the first-time homebuyer credit can land you a total tax rebate of $750. While $750 isn’t a life-changing amount of money, it can make buying your first home a little bit easier.
How do I report first time homebuyer credit?
If you made a qualifying home purchase in 2008 and owned and used the home as a principal residence in all of 2020, you must enter the additional federal income tax on Schedule 2 (Form 1040) , Additional Taxes. You don’t need to attach Form 5405, Repayment of the First-Time Homebuyer Credit.
What does first time home buyer do?
Benefits can include low- or no-down-payment loans, grants or forgivable loans for closing costs and down payment assistance , as well as federal tax credits.
What was the first time homebuyer credit in 2009?
First time homebuyers in 2009 are entitled to a tax credit totaling 10% of the purchase price of the home . The maximum tax credit is $8000. Your amount may be less depending on the purchase price of your house.
Is there a tax credit for buying a home in 2020?
The federal first-time home buyer tax credit is no longer available , but many states offer tax credits you can use on your federal tax return. ... However, don’t despair: There are tax credits available, as well as other programs that can help you get a first mortgage.
Are closing costs tax deductible?
Can you deduct these closing costs on your federal income taxes? In most cases, the answer is “no.” The only mortgage closing costs you can claim on your tax return for the tax year in which you buy a home are any points you pay to reduce your interest rate and the real estate taxes you might pay upfront.
