There has been a flow of misinformation regarding this issue and it has been all over the Internet at a remarkable place.  Much of this information suggest that the Obama Administration’s health care legislation includes a tax on real estate. Many have gone so far as to call this a “real estate sales tax” or “point of sale tax.”

Quoting Kathy Mehringer, Director of Risk Management for Coldwell Banker:

“The fact is the new law does impose a 3.8% tax for households in the top tax brackets on unearned income.  This includes capital gains.  However, the legislation will not impact the exclusion on capital gains earned from the sale of a primary residence up to $250,000 for individuals, and up to $500,000 for married couples.  The 3.8% tax will apply only to capital gains above the normal exclusion.”

I can understand why there is a lot of confusion over this issue and that is why our National Trade Organization has produced the attached flyer.  Take a moment to read this information as knowledge is power!

Get more info here