Saturday, April 2, 2011

A 3.8% "sales" tax on home sales?

From what I have read, there is no 3.8% sales tax buried in the health-care bill.  What I have been able to find is that there is a 3.8% capital gains tax on some home sales for a limited number of taxpayers.  First, a married couple must make more than $250,000 in adjusted gross income or $200,000 if single. The capital gain on the home sale must also exceed $500,000 if this is a primary home and you are a married couple ($250,000 for singles). It will not take effect until Jan. 1, 2013.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/07/15/AR2010071506964.html

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