[Lubasha]

"Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill, -- and it goes into effect in 2013. Why 2013? Could it be so that it doesn't come to light until after the 2012 elections?" ...

http://www.gop.gov/blog/10/04/08/oba...are-taxes-home

I got email from friend with this info in the morning. Could you believe it?

[Natalie-VA]

This info has been widely circulated in email and is incomplete, at best. This tax would not affect the seller of a $100,000 home.

The tax only applies to high income earners who sell a house where their profit exceeds the existing 250k/500k exemptions, and even then, only the amount over the exemption is taxed.

I don't agree with the tax, but I also don't agree with the many people who distribute these emails without including all of the facts. IMO, this tax will affect very few people.

You can do some research on the web to get the specific criteria for this tax. In addition, when someone sends you an email like that, please reply to them with the facts and let them know they are disseminating bad info.

--Natalie

[Lubasha]

Thank you Natalie,

My friend did not mean to make my life difficult, he thought he is helping. I checked that link and was kind of scared. With your knowledge it makes more sense to me to keep on with REI. Your help is always so precious, Natalie.