Armed Sevices Members Have Extra Year to Claim Homebuyer Tax Credit
While the contract deadline for the homebuyer tax credit for most Americans was April 30, 2010, members of the armed services and certain other federal employees still have time to take advantage of the incentive.
For those that served outside of the U.S. for at least 90 days during the period beginning after December 31, 2008, and ending before May 1, 2010, the deadline is extended to 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. Both the $8,000 first-time and the $6,500 repeat homebuyer tax credits are included in the extension.
Source: New York State Association of Realtors (NYSAR)
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