Homebuyer tax credit expires April 30
for U.S. service members
Qualifying U.S. military personnel and certain other federal employees serving overseas need to move quickly to take advantage of the federal homebuyer tax credit of up to $8,000 for first-time buyers and $6,500 for long-time homeowners that is set to expire on April 30, 2011.
The taxpayer has until June 30, 2011 to close on the purchase.
Eligible properties include single-family homes (including condos, co-ops
and townhouses) that will be used as the taxpayer’s primary residence. Vacation homes and homes with a purchase price exceeding $800,000 do not qualify for the tax credit.
Only one spouse must be overseas on official extended duty for the requisite amount of time for either spouse to be eligible for the 2011 extension of time to purchase a principal residence.
Download this flyer for more information –militarytaxcreditflyer.pdf
And be sure to contact me.