GOP.Gov Blog – 4/8/2010
Beginning January 1, 2013,
ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income”
taxpayers which could apply to proceeds from the sale of single family homes,
townhouses, co-ops, condominiums, and even rental income, depending on your
individual circumstances and any capital gains tax exclusions. Importantly, the
“high income” thresholds are not indexed for inflation so will reach increasing
numbers of middle-class taxpayers over time.
This new ObamaCare tax is
the first time the government will apply a 3.8 percent tax on unearned income.
This new tax on home sales and unearned income and other Medicare taxes raise
taxes more than $210 billion to pay for ObamaCare. The National Association of
Realtors called this new Medicare tax on unearned income “destructive” and
“ill-advised” and warned it would hurt job creation.
Northwoods Patriots - Standing up for Faith, Family, Country - northwoodspatriotscomm@gmail.com
Posts
hey nice blog thanks for sharing the information about how to sell house .
ReplyDeletesell my property