3.8% Tax: What’s True, What’s Not – by Robert Freedman

There has been press that there will be a tax on real estate transactions in the new year.  Here is the real story as told by NAR as to whom this really could affect.  

Ever since health care reform was enacted into law more than two years ago, rumors have been circulating on the Internet and in e-mails that the law contains a 3.8 percent tax on real estate. NAR quickly released material to show that the tax doesn’t target real estate and will in fact affect very few home sales, because it’s a tax that will only affect high-income households that realize a substantial gain on an asset sale, including on a home sale, once other factors are taken into account. Maybe 2-3 percent of home sellers will be affected.

Read more on this topic at 3.8% Tax: What’s True, What’s Not.

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