New 3.8% sales tax on “all” home sales? Not quite…

Thanks to the ignorance and viral news stories about The Affordable Health Care Act (i.e., Obamacare), No – there won’t be a new 3.8% sales tax on “all” sales of homes beginning on January 1, 2013…just some homes.

Those fortunate homeowners who sell their homes for a realized profit greater than the allowed exemption ($250,000 fors signle and $500,0000 for joint taxpayers) will be taxed another 3.8% on the excess above the exemption.

It is better explained in the source article below, but us 99%-ers don’t need to worry – just the 1%-ers!


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