February 22nd, 2012 2:51 PM by Jennifer McGuire
There have been numerous e-mails sent to me lately regarding the new 3.8% tax on real estate. People are speculating on how it will affect them. Here are the facts:
Beginning January 1, 2013,
Understand that this tax WILL NOT be imposed on all real estate transactions, wich is a common misconception. Rather, when the legislation becomes effective in 2013, it may impose a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI.
If you have other questions about it, let me know. I have a brochure I would be more than willing to forward to you. Drop me an e-mail requesting it: firstname.lastname@example.org