[picappgallerysingle id=”8393622″]Home sale tax myth debunked

The health-care law mandates a new 3.8% Medicare surtax on net investment income, which, in some cases, could include the sale of a primary residence.  However, the tax, which takes effect on Jan. 1, 2013, only applies to individuals making more than $200,000 annually and married couples filing jointly making more than $250,000.  And it only applies to principal home sales for individual homeowners lucky enough to sell their home for more than a $250,000 profit, or $500,000 for a married couple….more

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