There's always lots of emails circulating with false information out there. One in particular states that the healthcare bill contains a 4% tax on home sales. According to Realtor.org, the truth is that bill imposes a 3.8% Medicare tax for some high-income households that have "net investment income". The tax, which goes into effect in 2013, applies only to households with adjusted gross income of more than $250,000 ($200,000 for individuals). Also, since the capital gains rule is still in effect, the tax would be charged only on home-sale proceeds that exceed the exclusion amount of $500,000 ($250,000 for individuals). That's an amount that touches few households according to the publication by Erica Christoffer and Robert Freedman.
If you have any additional questions, call your CPA, Tax Advisor.
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