Home Sellers Discover Hidden New Obamacare Tax...
Economic Policy Journal
MypNJ.com reports:
Luxury real estate broker Ron Aioso says there is a tax that is rarely discussed that also helps fund Obamacare. It is a tax on high-income taxpayers when they sell their homes.
Franklin Lakes, N.J. was listed on Forbes.com in 2010 as one of "America's Most Expensive ZIP Codes", with a median home price of $1.3M.
Aioso says homeowners in a neighborhood like this could really be impacted by the Obamacare tax.
“Where we are today in a luxury area, you look and you see this home behind me, somebody like this is really affected,” he said.
If you are single with an adjusted gross income of $200,000 or file jointly with an income of $250,000 or more, you may be impacted. Once you sell your home, any profits over the first $500,000 are already subject to a capital gains tax. And now those profits will have an additional 3.8% tax to fund Obamacare.
Who the hell really knows what else is hidden in the thousands of pages of regulations surrounding the Affordable Care Act? Be prepared for plenty more surprises like this.
Link:
http://www.economicpolicyjournal.com/2013/11/home-sellers-discover-hidden-new.html
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