Jill, the tax credit is good up to 10% of the purchase price of your home (not to exceed $8000 total), and you can file an amended return for 2008, or file it as part of your 2009 return next year.Consult your tax adviser for specifics as they relate to your individual tax situation.Steve Russellwww.SteveRussellOnline.com

The tax credit it 10% of the purchase price up to a maximum of $8,000.00, not $8,500.00 first of all. You can amend your 2008 tax return if you already filed it this year. All you would need to do is contact the person/company who prepared your tax return to have them file an amendment. If you prepared your own tax return, you can visit the IRS website for the form to fill out to amend your 2008 tax return. Your other option is to wait until you file the 2009 tax return for this credit; however if it were me, I would file it now. If you have any further questions, please don't hesitate to contact me at dmcdermitt@beaconfinancial.biz