There has been a lot of gossip on the looming real estate tax to pay for health care reform, not to mention the proposed phase out of the MID (Mortgage Interest Deduction). The MID is an uphill battle and I suspect, if it is enacted, will fall under the income parameters of the 3.8% tax for real estate sales scheduled to take place in 2013.
Some facts are in the linked article. If you don't make more that $250,000 AGI then you are not going to be subject to the tax. For now that is 97-98% of us. There is a catch if the home sale drives your taxable income above $250,000. My concern on that is, like the AMT (Alternative Minimum Tax), the $250,000 limit will likely not be adjusted for inflation and eventually, in 20 years or so, a large percentage of the population will subject to the sales tax.
The article also uses a National Association of Realtors example on how it might effect an individual or family. Its always important to discuss tax matters with a tax professional.
http://www.marketwatch.com/story/be-on-the-lookout-for-new-real-estate-tax-2011-01-28
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