Homebuyer Tax Credits
The homebuyer tax
credit continues for U.S. military personnel.
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Members of the U.S.
military, foreign
service and
intelligence
communities have
until April 30, 2011 to
purchase a home and
claim the home buyer
tax credit.
According to the
Internal Revenue
Service, the
credit 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."
Qualifying service
members have
until on or before April 30,
2011, to sign a
sales contract and
on or before June 30, 2011,
to close on the
property. Both the
$8,000 first-time
and the $6,500
repeat home buyer
tax credits are
included in the
extension.
-
Learn more from the
IRS and
download an
informational flyer.
Claiming the tax credit on your taxes
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The National
Association of
REALTORS® estimates
the tax
credits have helped 4.4
million people buy homes.
If you are one of
them, learn about
how to file for the
credit from
www.IRS.gov and
get five tips about the first-time homebuyer
credit documentation requirements.
Specific tax
questions? Call the
Internal Revenue
Service at
800-829-1040.
NOTE: You must
have
signed a purchase
contract by April 30,
2010
and closed on the
home by September 30,
2010 to qualify for
this credit.
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Making your home
more “green” could
save you some too.
Learn about tax credits
for "green" upgrades.
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