Truth about the 3.8% health care tax on REAL ESTATE SALES….
I get a ton of people asking me and emailing me about this. First this tax only applies to those people who are single, and have an adjusted gross income (AGI) of over $200,000 and sell a home..please note the AGI takes in almost all source of income, investments real estate, annuities etc. not just the income earned from your job or vocation. And couples whose AGI is over $250,000, and sell a home.
IT DOES NOT APPLY TO ANYONE ELSE. Please check with your tax preparer or advisor.
Like the 10% tax on tanning services, Congress increased taxes in many ways to try to pay for this law. Unfortunately, the true cost of the health care bill and its 2200 pages
to be implemented by government regulations, has yet to be disclosed. That surprise was purposefully set to spring AFTER THE Nov 2012, elections.