I read that there is a 3.8% sales tax on home sales after 2012. Does anyone know if this is true?
As part of the healthcare bill, a supposed 3.8% sales tax is being placed on home sales after 2012. Can anyone provide a link supporting or refuting this claim?
It is true alright. It was part of the health care package. Welcome to better health by way of relieving you of excess cash that you would just use to damage your health.
Not exactly right. The tax will only be on high income taxpayers - currently defined as an individual making over $200,000 and a couple making over $250,000. The tax is on unearned taxable income that includes gains on the sale of real estate as well as interest and dividends. However, for real estate, a gain on your personal residence is tax free (not included in income) up to $250,000 for an individual and $500,000 for a couple. The tax is also only on the amount of gain included in income not the gross sales price.
Take a look at this link:
http://www.factcheck.org/2010/04/a-38-p … your-home/
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