The $8,000 first time home buyer credit, for many, has come and gone. For military, the time left to purchase and claim your credit is dwindling down. Here are the requirements:
- An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30th and close on the purchase by June 30th
- The military member had to have deployed (Haiti counts) for at least 90 days between Dec. 31, 2008 and before May 1, 2010.
You do not have to repay the credit if you own and use the home as your main home for 36 months after the date of purchase. There are also exceptions to these general rules when a repayment triggering event occurs.