Affordable Care Act will not result in tax on the sale of your home, despite claims to the contrary. Reply

The Affordable Care Act, also known as Obamacare, has a statute that affects certain real estate transactions.  This statute has caused confusion even among real estate sales professionals and, subsequently, people who are thinking about selling their home have held off because they have the wrong information.

Starting on January 1, a 3.8% tax on the sale of investment property will go into effect (It also applies to some income from interest and dividends).   This tax does not apply to the sale of your primary residence nor does it apply to the sale of all investment property. More…