Funny we didn't know that the credit was 10% of the purchase price until ammending 2008 return. Our CPA didn't quote anything less than $8000. even when we discussed the fact that it, 'seemed too good to be true' - we were assured it was 'true'.

To top things off, we also learned that if you are buying the home with more than one person, the eligible party receives only their % portion of the credit.

Can anyone discredit this? I'm hoping it's a myth!

I also misposted a message under 'Filing Requirements' that is related to this same issue.