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Pay it Forward - $8,000 Tax Credit still in effect...

By Dave Miller

Real Estate Agent with RE/MAX Integrity, Dumont, NJ 201-385-8100

November 26, 2010 06:41 AM

I'm embarrassed to say I didn't know this so I'm passing it on to you in case there's the slightest chance you didn't know either....

Home Buyer Tax Credit for Members of the Military/Veterans good until 2011

Any service member who is or has been on extended duty (overseas) for 90 days or more between December 31, 2008 and ending before May 1, 2010, has until April 30, 2011, to sign a purchase contract and until June 30, 2011 to close on the property.

This is a nice 'Pay if Forward' from our government (which is us, right?) to the men & women who are serving our country.

I'm not sure why 'ending before May 1st, 2010' is a stipulation. What about service personnel who are serving now or got home last summer? I think it should be open ended - if you're serving for 3 months in Iraq or Afghanistan, the least we can do is extend the tax credit opportunity.