Legal Question in Real Estate Law in Illinois

What does your contract say??

I cannot imagine how the homeBUYER tax credit would go to the SELLER in any case. Contact the attorney who assisted you with the transaction.

Normally the way you undo something you did on federal taxes is to file an amended return, and this has nothing to do with the seller. I would consult a tax advisor on the amended return issue, considering the net result could be interest and penalties..... As to the seller I agree w/ both other answerers, check your contract and if you're not sure how to check it, time to go back to your attorney if you had one, or have one look at it now. Because if you signed a contract that somehow tied your tax break into the price on a contingent basis (and I know people who tried to) you may in fact have not only a tax issue but a contractual one.

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Illinois. Responses are based solely on Illinois law unless stated otherwise.