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Is there a new tax on home sales in the new health care bill?

In: Sales Tax, Barack Obama, Healthcare Reform [Edit categories]

Answer:

Maybe. Starting in 2013, singles earning over $200,000 AGI and marrieds over $250,000 will have to pay a 3.8% home sales tax, but only on the profit (capital gains) over $500,000.
So, most people will still be exempt from this tax. How many of us make over $250,000 and also would make a profit (after paying down the mortgage) of over $500,000 on the sale of our home. The answer: very few.

First answer by ID1266730582. Last edit by ID1266730582. Question popularity: 1 [recommend question].

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