TAX CREDIT STILL AVAILABLE FOR ACTIVE DUTY MILITARY FAMILIES

By
Real Estate Broker/Owner with PREA Signature Realty - www.PREASignatureRealty.com

Tax Credit for Active Military Families

For most Americans, the Federal Homebuyer Tax Credit has expired. However, for members of the military, , the diplomatic foreign service and the intelligence communities serving outside the United States for more than 90 days, the Federal Homebuyer Tax Credit is still available.

Here are the provisions:

* Credit Amount:  $8,000 for First-Time Buyers / $6,500 for Qualified Repeat Buyers (5 of past 8 years)

* Maximum Purchase Price:  $800,000

* Deadlines:  Property under Contract by April 30, 2011 / Sale Closed by June 30, 2011.

* Recapture Period:  3 years - except for service related relocation.

* VA:  Qualified military buyers may combine tax credit with other incentives from the Department of Veteran Affairs.

If you serve this niche market, the tax credit is still available to qualified purchasers. For more information, visit: http://www.federalhousingtaxcredit.com/service_mem.php.

Written by Ryan Shaughnessy / PREA Signature Realty. All Rights Reserved - Ryan Shaughnessy / PREA Signature Realty (2010).

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Ali Robinson 06/30/2010 01:57 PM
Topic:
Real Estate Best Practices
Location:
Missouri
Groups:
National Women's Council of Realtors - Not Just for Women!
Rainer's Women's Council of Realtors
Tags:
wcr
federal tax credit
military benefits
military tax credit
va benefits

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Rainmaker
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Laurie C. Bailey-Gates
Bean Group - Mashpee, MA
ABR, SFR

Hi Michelle,

 

Thanks for the reminder!! It is nice that some people can still take advantage of this.

 

Laurie

May 31, 2010 08:04 PM #1
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Msgt Darrel Clark

What proof do I need to send in with tax papers to take advange of the tax credit for military credit. I was in Iraq in 2009 from May to Aug.

Jun 25, 2010 10:17 PM #2
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Rainer
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Michelle Silies

Broker-Attorney, Your St. Louis Relocation Specialist
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