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What about that 3.8% tax on home sales (to cover costs of Obama care)?!!

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What about that 3.8% tax on home sales (to cover costs of Obama care)?!!

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There’s been grave concern by some that there is a 3.8% tax levied on all home sales, starting in 2013, to pay for the new health care laws, affectionately referred-to as ‘Obama Care’.  See the following links to help bring clarity and understanding to what circumstances must exist in order for this tax to be levied on a home sale.

This tax applies to the following types of individuals:

  • Individuals with adjusted gross income (AGI) above $200,000
  • Couples filing a joint return with more than $250,000 AGI
and there are multiple stipulations for those that fall into this category.  For more details see:

 

I would be honored to help you with your real estate needs and happy to explain tax benefits and other aspects related to financing a home or investment property. Just give me a call or contact me.

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