The Stimulus tax credit is still available for members of the Military and other Federal employees that have served outside of the US for 90 days or more anytime from December 2008 to May 2010.
Per the IRS: 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 individuals 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.
Members of the military will have an extra year to take advantage of the First Time Homebuyers the tax credit of $8,000. If you have owned your home for 5 years, you are eligible for a $6,500 credit on the purchase of a new principle residence.
If you would like to take advantage of the extension, please give us a call or email kaybaker@ec.rr.com and we can help. If you are on active duty and stationed in Camp Lejeune NC, you can search Wilmington NC real estate homes in the Wilmington, Hampstead and Jacksonville NC area on http://www.cbbaker.com/ . A huge thank you for serving our great Country!
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