Sales tax to sell after 2012???

Is this true? Someone told me they recently heard that after 2012 there is going to be a 3.8% sales tax for every $100,000 when you sell your house. (responsible by the seller).

Is this a rumor?

Re: Sales tax to sell after 2012???

Untrue

The first $250,000 in PROFIT from the sale of a personal residence won’t be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few — those with high incomes from other sources (only those with incomes OVER $200,000 a year ($250,000 for married couples filing jointly) will be subject to it)

so in sum, you & DH need to make $250k+ AND need to make a profit on your house of over $500k ....


Hope that helps..

source:
www.factcheck.org

Message edited 3/29/2011 9:09:44 AM.