As the deadline looms to purchase a home under the homebuyer tax credit, there is good news for military families! There is a little-known special provision in the bill that extends the deadline to purchase a home to April 30, 2011 for military personnel, and active-duty service members currently living overseas.
The specific details of the bill include individuals on “qualified official extended duty” outside the U.S. who make home purchases prior to May 1, 2011 (or July 1, 2011, for taxpayers with binding contracts). “Qualified official extended duty” is defined as duty outside the U.S. for at least 90 days, during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. Married service members must have served overseas for at least 90 days in 2009 to qualify for this extension.
The provision for military personnel also makes mortgage payments tax deductible for military personnel.
For more information on this special provision for Denver-area military families, please contact TeamCox Realtors – Denver real estate specialists – at 303-400-6060. As a former military family, we have a distinct understanding of military families’ needs.
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If you are looking for a home in Denver and the surrounding area then contact TeamCox for professional Real Estate Assistance