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William McConnaughy, CPA - Free IRS Tax Help Clinic :: General Tax Forum :: General Tax Questions

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Post  LecterQ Fri Sep 02, 2011 5:33 am

Was wondering if my wife and I are going to be eligible for the 'First Time Homebuyers Tax Credit'? We went VA-as both of us are veterans, and we closed on April 26, 2011 and were in contract about a month prior to that. We were told that the deadline was April 30, 2011, but there is alot of conflicting information. This is our first home and selling price was $94,000 if it makes any difference. Thank you.

LecterQ

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Firt Time Homebuyer Empty Must be qualifying servicemembers

Post  William D McConnaughy Fri Sep 02, 2011 2:22 pm

The extended deadline to qualify for this tax credit is available to "qualifying servicemembers", that is people serving in the US military, intelligence community, or Foreign Service on official extended duty outside the US.

You mention being veterans, and getting your loan through the VA, but the law does not cover discharged, former servicemembers.
William D McConnaughy
William D McConnaughy
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