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To: dalebert
I was just told that starting next year there will be a 4% obamacare tax on property sold. anyone know if this is true?

From: http://www.biggerpockets.com/renewsblog/2012/07/03/obamacare-real-estate-investment-tax-health-care/

In the healthcare bill, there is a new tax created on investment income for high income households and it is called a 3.8% medicare tax. It is a tax that will only be imposed on households with a combined income above $250,000 or individuals with an income above $200,000.

The next stipulation is that you must make a return on the sale of the investment property above the capital gains threshold which is $250,000 for individuals and $500,000 for couples... At that point the tax does kick in, but only applies to the amount of income above the exclusion. For instance, if you sell a property and earn a $550,000 return as a couple, you will be subject to a 3.8% tax on $50,000 provided your adjusted gross income is above $250,000 for the year.

IMHO: It's a stealth tax pumped by inflation (Read Quantitative easing). Think 10-15 years of Obama generated inflation and you'll have some idea.

14 posted on 09/22/2012 1:39:46 PM PDT by sr4402
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To: sr4402

havent heard much from Republicans about this tax..but of course they cant talk about cutting taxes to the rich(today 250 thousand is nothing). negative press would be all over them


15 posted on 09/22/2012 7:40:22 PM PDT by dalebert
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