Myth About 3.8% Tax on Real Estate Sales

Myth About 3.8% Tax on Real Estate Sales

Myth About 3.8% Tax on all Real Estate Sales Will Not Die...

A false rumor about a transfer tax on all real estate sales is once again making the rounds on the Internet and in e-mails. The information being forwarded claims that the Affordable Care Act contains a 3.8% tax on all real estate sales. Not so.

Though the act does include a 3.8% tax on some investment income, it will not come into play for the majority of home sales. First, the tax applies only to people with adjusted gross income of $200,000 ($250,000 for a joint return). Also, homeowners who sell their principal residence will still enjoy the exclusion of $250,000 of gain realized on the sale of the home ($500,000 for married couples) as long as they have lived in their primary residence 2 of the last 5 years - otherwise standard capital gains taxes apply.

Any questions about real estate in general please feel free to email me directly at JP@JPHOMESFORSALE.com

Yours truly,

JP Piccinini

JP Piccinini is the Broker/Owner of JP and Associates REALTORS - He specializes in residential real estate sales in Frisco, McKinney, Allen and Plano. He has closed hundreds of deals for buyers and sellers both in Texas and South Carolina and is one of the few Accredited Luxury Home Specialists in the DFW Texas Metroplex. He can be reached directly at 469-999-HOME (4663) or via email at JP@JPHOMESFORSALE.COM - to view some of his videos visit www.jphomesforsale.info 


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Phone: 469-999-4663
Dated: July 16th 2012
Views: 4,394
About JP: JP Piccinini is the Founder, Broker and Owner of JP and Associates REALTORs - a real estate brokerag...

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JP And Associates REALTORS
6175 Main Street #355 Frisco Texas 75034
Frisco, TX
972-375-9448
4692875503

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