1040-US ELF: Error Code F1040-394-01

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Error Code F1040-394-01:  Form 1040, Line 60b 'FirstTimeHmByrRepaymentAmt' must not be greater than the First Time Homebuyer Credit amount in the e-file database.

You'll want to verify what the IRS has on file in the e-file database with regard to the first time homebuyer credit.  To do so, you can use the Account Look-Up Tool at http://www.irs.gov/Individuals/First-Time-Homebuyer-Credit-Account-Look-up; otherwise, the return will need to be filed on paper.  If filing the return on paper, refer to 1040 - US ELF:  Form 8948 - Paper Filing Exceptions.

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