If a buyer purchased their home in 2008 and claimed in 2009 their $7,500 tax credit prior to learning about the $8,000 tax credit, are they eligible to amend their tax returns to take advantage of the benefits of the $8,000?

I think the IRS is a little vague on this unless I'm reading it incorrectly. In one spot in the Q&A they say yes and in another part no. 

I know this is more an accountant question but I'm curious.

If you bought in '08 under the $7500 "loan", before it was changed to a true tax credit and raised to $8,000, it is my understanding that you cannot amend your taxes to change which credit you get. The $8,000 replaced the $7500 loan, so if you bought while the $7500 rule was in place, those are the guidelines you have to adhere to.

AC

Antonio Cibella:

If you bought in '08 under the $7500 "loan", before it was changed to a true tax credit and raised to $8,000, it is my understanding that you cannot amend your taxes to change which credit you get. The $8,000 replaced the $7500 loan, so if you bought while the $7500 rule was in place, those are the guidelines you have to adhere to.

AC

I concur...