There's a popular rumor being circulated that starting January 1, 2013, the health care reform bill will add a sales tax to all home sales. NOT TRUE.
Now, before I go into details, a caveat -- I am NOT a tax expert! Consult your tax professional for the details on how your taxes could be affected.
Who/what will be taxed:
Adjusted Gross Income (AGI)
- above $250,000 AGI married filing jointly
- above $200,000 AGI for single filers
- gains above $500,000 if married filing jointly
- gains above $250,000 for single filers