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3)Does anyone have information about the Home Buyer tax credit v. the military? If we need to move when I sign up do we still have to pay back the 8k? With the first on the way, if I need to go away for a while i'd like my wife to be closer to family.
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Referencing above-Check out the IRS website:
http://www.irs.gov/newsroom/article/...215594,00.html
* In many cases, the credit repayment (recapture) requirement is waived for members of the uniformed services, members of the Foreign Service and employees of the intelligence community. This relief applies where a home is sold or stops being the taxpayer’s principal residence after Dec. 31, 2008, in connection with government orders received by the individual (or the individual’s spouse) for qualified official extended duty service. The credit is still allowable even if this happens during the year of purchase. Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer’s principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters. Extended duty is defined as any period of duty pursuant to a call or order to such duty for a period in excess of 90 days or for an indefinite period.
Hope this helps.