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11967: 1040 - Reject F1040-394 Homebuyer Repayment Exceeds Credit
11967: 1040 - Reject F1040-394 Homebuyer Repayment Exceeds Credit
3 Months Ago
Rejects + EF Messages
How do I correct reject F1040-394?
This reject refers to a credit entered on Form 5405, page 2
and is the result of a comparison made between the credit entered on form 5405 and the credit shown in IRS records. This reject also can occur if only one spouse received the credit, and the
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screen
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box is not marked for that taxpayer or spouse. The taxpayer will need to contact the IRS, or use the
IRS First Time Homebuyer Credit Account Look-up tool
to determine the correct amount of the credit, and then modify the repayment accordingly.
Related Links
1040 - EF Message 5030 - First-Time Homebuyer Credit
First-time Homebuyer Credit Repayment
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