The housing market may indeed be recovering, as many experts suggest, but investors are still struggling to understand what, if any, taxes they'll owe upon selling their homes. One new question is how the "medicare tax" will apply to real estate transactions. It's not a sales tax, and it won't apply to home-sale gains excluded from income under current law. Read the details at the Wall Street Journal article by Carolyn T. Geer.
As always, if you have questions about this law or any real estate taxes if you sell your home, please call or email me.
As always, if you have questions about this law or any real estate taxes if you sell your home, please call or email me.
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