transfer tax: Did Healthcare Reform impose a 3.8% TRANSFER/SALES TAX on Real Estate???
- 04/19/12 07:14 AM
NOPE! It's all just a nasty rumor. So, let's get the facts straight! Check out this Snopes link: http://www.snopes.com/politics/taxes/realestate.asp I think Snopes put it best "Health care legistlation imposes a 3.8% transaction tax on profits over the capital gains threshold".
Basically, here it is...If your Adjusted Gross Income is over $200,000 as a single person or $250,000 as a married couple you may be subject to this 3.8% Medicare Tax when you sell your home IF you realize a GAIN of more than $250,000 as a single person and $500,000 as a married couple. There is already an exclusion on the … (0 comments)
NOPE! 
;)
;)
