A Sales Tax When You Sell Your Home?

[yunowu]

A Sales Tax When You Sell Your Home?
http://www.moneytalksnews.com/2010/09/19/a-sales-tax-when-you-sell-your-home/

Have you heard that beginning January 1, 2013, you'll have to pay a 3.8% tax on the proceeds of any home you sell?
Source: Money Talks (http://s.tt/12mLU)

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[The White Coat Investor]

Sure, on the GAINS over $500K IF you make more than $250K that year. That means your $500K house has to double in value before you ever have to pay any tax at all. If that only happens after retirement, you'll probably have less than $250K income.

It's really a tax on Californians.

 

[yunowu]

Just became a subscriber to your blog. Very informative. Thank you.