Military Tax Credit

Did you know that the military get a  break when they sell their homes. Most homeowners need to live in a house for at least two of the five years in order to claim tax-free profits of up to $250,000 ($500,000 if married filing jointly). But because the military move frequently, military families need to live in the house for only two of the preceding ten years in order to qualify if they are on qualified official extended duty, which means living at least 50 miles from home or in government quarters.