ERA Resources

Extended Home Buyer Tax Credit 2009/2010

The Extended Homebuyer Tax Credit of 2009/2010 expired on April 30, 2010 for most buyers. However, there are special provisions for members of the U.S. armed services, as well as intelligence service and Foreign Service personnel, including, but not limited to, an extended deadline to take advantage of the credit. Those who are on qualified extended duty and out of the U.S. for a 90 day period during any part of 2009, have an additional year of eligibility. In order to qualify for the tax credit, they must sign a contract by April 30, 2011 and have until June 30, 2011 to close on that contract.

Other provisions and qualifications apply. For more information, please visit the IRS page First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees.

Note: This is intended to provide an overview only – for specific information or individual concerns, please contact your lawyer, accountant and/or financial advisor.