Tax Breaks for the Military Family
Tax Breaks for the Military Family There are certain tax breaks available to members of the U.S. military and their dependents: Sale of the principal residence A taxpayer on qualified official extended duty in the US Armed Services or the Foreign Service may suspend for up to 10 years of such duty time the running of the 5-year ownership-and-use period before the sale of a residence. This election applies to one property at a time. To qualify, a taxpayer must meet the following criteria...