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Sales tax on Home Sales in 2013? Have you seen this email?

October 20, 2011

Rest easy….this email is raging like a wild fire.

Basically this is part of the PPACA Health Care Legislation that imposes a 3.8% medicare tax on higher income households.

Specifically, the lessor of ‘net investment income’ or the excess of modified modified adjusted gross income over a ‘threshold amount’ ($250,000 joint filers, $250,000 married filing sep and $200,000 in all other cases).

Please click on the Snopes link for all details
http://www.snopes.com/politics/taxes/realestate.asp

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