Franchesca
Level 2
04-24-2021
10:14 AM
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Hello, I have a client who purchased a house in 2018. He us under a payment plan with the IRS. The instructions provided in form 5405 indicate that form 5405 is not required under a payment plan and that the repayment can be reported directly on schedule 2 line 7b. However, Proseries is generating the form? Is there a way to directly entry the first-time repayment homebuyer credit on schedule 2 without generating form 5405? Thank you.
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