Dollar limitation
(A) In general
(A)In general#
Except as otherwise provided in this paragraph, the credit allowed under subsection (a) shall not exceed $8,000.
(B)Married individuals filing separately#
In the case of a married individual filing a separate return, subparagraph (A) shall be applied by substituting “$4,000” for “$8,000”.
(C)Other individuals#
If two or more individuals who are not married purchase a principal residence, the amount of the credit allowed under subsection (a) shall be allocated among such individuals in such manner as the Secretary may prescribe, except that the total amount of the credits allowed to all such individuals shall not exceed $8,000.
(D)Special rule for long-time residents of same principal residence#
In the case of a taxpayer to whom a credit under subsection (a) is allowed by reason of subsection (c)(6), subparagraphs (A), (B), and (C) shall be applied by substituting “$6,500” for “$8,000” and “$3,250” for “$4,000”.