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Thursday, March 18, 2010

Tax Credit Extended For Active Duty Military Home Buyers

Military personnel who are out of the country for 90 days since 2008 may have an extra year to get the tax credit, up to $8,000, for buying a home.

To qualify the out of the country tour must be for “official extended duty outside the United States for at least 90 days after 2008 and before May 1, 2010.”

If the qualification is met then the service member has an extra year to buy a home - until April 30, 2011, to contract to purchase and until June 30, 2011 to close on the home.   First time buyers will get a maximum of $8,000 and others $6,500.

If you are stationed at Patrick Air Force Base in Brevard County, please contact me to discuss home buying opportunities in the local area.

As always consult a qualified tax adviser - not me as I am not an attorney or CPA.  The IRS publication is posted at: http://www.irs.gov/pub/irs-pdf/p3.pdf .

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge Florida serving residential buyers and sellers in Brevard County, Florida.

Read my blogs Florida Homes for Sale and Florida Homes and Condos For Sale.

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