Back in September of 2010, we posted about an issue which has come up again… a sales tax on real estate transactions, and how it will fund health care in America. In that post, we had articulated that “… the truth is NO, there will NOT be a sales tax on real estate transactions; however, there will be a 3.8% tax on investment income above certain limits.” (This tax would go to fund Medicare.)
We then provided an example and the limits on which this tax would be effective. To provide additional clarification, we found a great brochure that provides even more detailed examples and scenarios, which can be downloaded for free (just click the image below):
There is also a detailed FAQ page on this very issue provided by the National Association of Realtors®.
And, of course, if you have any questions, please comment below or contact us!