Understanding the New Real Estate Tax for 2013

August 17, 2012 By In Taxes No Comment

The NATIONAL ASSOCIATION OF REALTORS® has developed an informational brochure that provides examples of different scenarios in which the new 3.8% tax — passed by Congress in 2010 — could be relevant to you and your customers.

Since this new tax will affect some real estate transactions, but will not be imposed on all transactions it is important to clearly understand the tax and how it could impact your clients. It’s a complicated tax, so you won’t be able to predict how it will affect every buyer or seller, so get up to speed and read through this informational brochure.

Note: 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.

The 3.8% Tax: Real Estate Scenarios and Examples 

Comments are closed.