3.8% tax on future real estate sales!!!!

[Rich Weese]

There is a provision for a 3.8% tax on real estate sold beginning in a couple years as part of health care bill! I did try to verify with snopes. It was confusing and only discussed in terms of owner occupied sale. Didn't address investor owned property. Anyone aware of this new change as part of the "health care bill"?? Could add additional costs to sale. With commission, title, etc, you might be looking at 15% of proceeds. Rich

[Rich Weese]

JScott- both examples referred to in your link were on owner occupied homes.

Any properties (non owner occupied)sold that caused your income to exceed 125K would be taxed at 3.8% for "medicare tax". 250K for married.(Whatever the heck real estate has to do with medicare!).
The 250K is not indexed, so as more individuals reach that level they will feel the pinch. Does all this look accurate? Rich