The Truth about the 3.8% Tax and Health Care Reform

As you may have heard by now, the US Supreme Court has upheld a bulk of the Patient Protection and Affordable Care Act (aka Obamacare).

One of the many provisions within the law are changes to the tax code as it applies to capital gains. 

There may be some misconceptions regarding the new tax laws and the health care law.

The common misconception/rumor/internet-hoax:  ALL real estate transaction must now pay a 3.8% sales tax.

This is not true.  There is no 'sales tax' on home sales within the health care bill.

What is true:

The bill would impose essentially a very small increase in capital gains taxes on some home sales made by a very limited number of US taxpayers.

If you prefer the short read, please see this article on Forbes.com:

http://www.forbes.com/sites/beltway/2012/04/02/there-is-no-obamacare-tax-on-most-home-sales-really/

Here is a list of the Top 10 Things You Need To Know About the 3.8% Tax:

http://www.realtor.org/topics/health-care-reform/top-10-things-you-need-to-know-about-the-38-tax

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