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
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.