First time home buyer credit

[Pacun]

Married couple purchased a home in 2009. They qualify for the credit. The house cost $70,000.00 (contract sales price) and with other charges (surveys, pest inspection, title insurance, attorney fees, appraisal fees, inspection fees, settlement fees and $3,000 mortgage insurance) the cost becomes $81,000.

What amount should I use as the purchase price for this house?

For a house that costs $160,000 (contract sales price), do you think the IRS would like you to include other costs or they will be happy with $160,000?

[Lion EA]

Match the purchase price on the HUD-1.

[jainen]

>>title insurance, attorney fees, appraisal fees, inspection fees, settlement fees and $3,000 mortgage insurance<<

In my opinion, based on IRC Section 36, "The term 'purchase price' means the adjusted basis of the principal residence on the date such residence is purchased."