Posted by Gerry Grummons on 10/9/11 9:15am
Msg #399998
Sale of Real Estate in 2012
Any body picked up on this?
Will you sell your house after 2012??
National Association of REALTORS is all over this and working to get it repealed, before it takes effect. But, I am very pleased we aren't the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many REALTORS do you think will vote Democratic in 2012?
Damn few. We vote in almost every election, in greater numbers than average. That, I’m sure, will have some bearing on next year’s election.
Michael W, REALTOR
Call your Democratic Senator’s Office to confirm this hidden fact about the ObamaCare regulation.
Will you ever sell your house after 2012?
Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?
That's $3,800 on a $100,000 home, etc.
When did this happen?
It's in the health care bill.
Just thought you should know.
SALES TAX GOES INTO EFFECT 2013 (Part of HC Bill).
Why 2013?
Could it be to come to light AFTER the 2012 elections?
REAL ESTATE SALES TAX.
So, this is “change you can believe in"?
Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax.
The bulk of these new taxes don’t kick in until 2013. If you sell your $400,000 home, there will be a $15,200 tax.
This bill is set to screw the retiring generation who often downsize their homes.
Does this stuff make your November and 2012 vote more important?
Oh, you weren’t aware this was in the ObamaCare bill?
Guess what, you aren’t alone.
There are more than a few members of Congress that aren't aware of it either
http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home
| Reply by Linda_H/FL on 10/9/11 9:25am
Msg #399999
Re: Sale of Real Estate in 2012...see this
http://www.snopes.com/politics/taxes/realestate.asp
| Reply by Linda_H/FL on 10/9/11 9:28am
Msg #400000
BTW - probably should be in JP n/m
| Reply by Shoshana/AZ on 10/9/11 10:03am
Msg #400002
Hmmmmm......I see you have a background in consumer finance.
You might really want to check things out before you post.
| Reply by JulieD/KS on 10/9/11 1:26pm
Msg #400012
This is misleading.
The tax is not on the gross sales price. Most people will get a $250,000 (or $500,000 if MFJ) exemption and will have no capital gain at all.
Please, ask a tax pro before posting stuff that is misleading.
| Reply by Notarysigner on 10/9/11 4:44pm
Msg #400024
So what are you talking about?
| Reply by Carole Breckbill on 10/11/11 5:13pm
Msg #400180
Re: Sale of Real Estate in 2012 Watch for Misinformation
To reiterate another response, please check the facts before posting. I did as the original writer suggested and contacted my Senator. Here is Sen. Sherrod Brown's response:
Under this legislation, only individuals making more than $200,000 per year will be taxed on home sale profits that exceed $250,000. In addition, couples making more than $250,000 per year will be taxed on home sale profits that exceed $500,000.
While I appreciate hearing your concerns about this important issue, the 3.8 percent will have no effect on 98 percent of working families.
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