Home Buyer Tax Credit for Military Members

For most people, the chance to get the home buyer tax credit has expired.  However, for members of the military who meet the requirements below,  an “extra” year is available. 

From the IRS website:

  • Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
  • Full IRS Link – 

    First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees

    More Information:  First Time Home Buyer Tax Credit  and New Tax Credit for Current Home Owners Buying a New Home

    If you qualify for this, you might also be interested in – VA Home Loans – A Quick Guide For Homebuyers and Real Estate Professionals