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To: xzins
That’s 3800 bucks on a 100,000 dollar house with absolutely no recourse.

Not quite. According to this article on Fact Check, A 3.8 Percent “Sales Tax” on Your Home? , I think this is how it works. If you are single, have an income of $200K, then you will be taxed 3.8% on any profit over $250K when you sell your home. For married couples that make $250K, they will be taxed 3.8% on any home sales profit over $500K. There is no exclusion, though if you sell a vacation home or rental property.

It still stinks.
85 posted on 09/26/2010 5:38:52 AM PDT by Girlene
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To: Girlene

Good info, Girl. Thanks.

See #86


87 posted on 09/26/2010 5:46:57 AM PDT by xzins (Retired Army Chaplain and proud of it. Those who truly support our troops pray for their victory!)
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To: Girlene

Be careful trusting Fact Check. They are owned by a Leftist newspaper.


118 posted on 09/26/2010 8:07:32 AM PDT by ConjunctionJunction (I can see November from my house!)
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To: Girlene

There is no exclusion, though if you sell a vacation home or rental property.
___________________
Such an easy way around this and a legal one. Think about it. :)


139 posted on 09/26/2010 11:55:06 AM PDT by mojitojoe ("Ridicule is man's most potent weapon" Saul Alinsky... I will take Odungo's mentors advice)
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