3.8% Tax on Real Estate Sales - True or False?
Posted by Joyce Godwin
The rumor that continues to circulate via the Internet and email inboxes is that there is a 3.8% federal tax on all home sales effective January 1, 2013.
However, the fact is that a 3.8% tax will be placed on some home sales, effective January 1, 2013, but not all home sales.
The tax will not affect individuals making less than $200,000 per year, nor married couples making less than $250,000 per year.
For more details and examples regarding the 3.8% tax on real estate sales, read the brochure published by the National Association of Realtors.
Source: National Association of Realtors
However, the fact is that a 3.8% tax will be placed on some home sales, effective January 1, 2013, but not all home sales.
The tax will not affect individuals making less than $200,000 per year, nor married couples making less than $250,000 per year.
For more details and examples regarding the 3.8% tax on real estate sales, read the brochure published by the National Association of Realtors.
Source: National Association of Realtors
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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