« previous next »
Pages: [1]   Go Down

Author Topic: The tax on house sales starting Jan 1....  (Read 778 times)

0 Members and 1 Guest are viewing this topic.

Offline Flame

  • Hero Member
  • *****
  • Posts: 4361
  • Reputation: +166/-34
The tax on house sales starting Jan 1....
« on: September 28, 2012, 04:24:19 PM »
I had someone tell me that it isn't a straight tax on house sales, but a tax on profit.

This is what she said : What the bill really says that individuals making 200,000 a year (or married couples) making at least 250,000/year, there will be a 3.8% tax on any PROFIT after the first 250,000 PROFIT on your home sale, not a tax on the sale price of your home.

Can anyone point me to official wording of this so I know what's what?
Logged

Offline rich_t

  • Hero Member
  • *****
  • Posts: 7942
  • Reputation: +386/-429
  • TANSTAAFL
Re: The tax on house sales starting Jan 1....
« Reply #1 on: September 28, 2012, 06:20:39 PM »
Quote from: Flame on September 28, 2012, 04:24:19 PM
I had someone tell me that it isn't a straight tax on house sales, but a tax on profit.

This is what she said : What the bill really says that individuals making 200,000 a year (or married couples) making at least 250,000/year, there will be a 3.8% tax on any PROFIT after the first 250,000 PROFIT on your home sale, not a tax on the sale price of your home.

Can anyone point me to official wording of this so I know what's what?

Goggle "housing sale tax health care bill" and take your pick on articles.
Logged
"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." --Norman Thomas, 1944
Pages: [1]   Go Up
« previous next »