People have been asking me about rumors of a new 3.8% real estate tax starting in 2013. Let’s discuss what this tax is, as it’s not a sales tax nor a transfer tax on real estate sales. In 2013, there will be a new tax on investment income obtained from interest, dividends, rents and capital gains. Single taxpayers with incomes less than $200,000 and married taxpayers with incomes less than $250,000 are NOT subject to this tax! The tax is only due on amounts in excess of the $200,000/$250,000 income amounts. And even then, if your total income is more than these amounts, a formula will protect some portion of your investment. In addition, it does not affect the capital gains exclusions on the sale of a principal residence. For more information, I encourage you to read more about it here. http://www.ksefocus.com/billdatabase/clientfiles/172/4/1609.pdf
This limited information should not be relied upon in making investment decisions. Seek the advice of your tax advisor.