My mom is eligible for the First Time... credit. We just learned through her amended 2008 tax return that the rebate is not, in fact, $8000. but 10% of the purchase price. Never in any advertising or conversations with CPA was the 10% mentioned. This is quite frustrating as major decisions were made as far as titling of the property, etc. with the $8000. rebate in mind.
Has this been revised - other than originally having to 'pay back' the rebate?
Why is there no mention of the alternate 10% -whichever is smaller- in the promotional ads? There is no notice to check for details or any fine print. It has always been, from what I have heard, $8000.
Thank you, in advance for any replies!