Members of the military and certain other federal employees serving outside of the US have an extra year to buy a principal residence in the US and qualify for the credit. An eligible taxpayer must by, or enter into a binding contract to buy, a principal residence on or before 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. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending May 1, 2010. Call Rob or Sandy for more details!
Posted on November 16, 2010 at 11:31 am Rob and Sandy Racz