Quote Originally Posted by roadrunner View Post
I do not have any links as this came from a news article in the paper. however if you look at the snopes article you can see this is a left spin says mostly false then goes into a long confusing explanation on capital gains tax for people earning over 200,000 or 250,000 dollars however if you were to sell you home in 2013 you might very well be in that category for that year.

If you check Truth or Fiction.com as I did before posting you will find it claims it is true. Real estate sales will be taxed 3.8%- Truth!
This is true, according to Congressman Mark Kirk of Illinois. Congressman Kirk released a statement on March 21, 2010 on HR-3590 saying that the health care bill will increase taxes "by imposing a new 3.8% tax on capital gains."

The actual tax increases may be generated by the HR-4872 Reconciliation Act according a March 21, 2010 article by Life and Health News Insurance News.
This is also confirmed in a March 25, 2010 article by CNNMoney.com that said, "couples making $500,000 in wages will pay an additional $2,250. If they made $1 million, they would pay an additional $6,750. In addition, high-income households would also be subject to a new 3.8% Medicare tax on investment income starting in 2013."
What you're missing is that the $250,000 figure quoted refers to the PROFIT on the property sold. So the statement in this chain letter that "If you sell your $400,000 home, there will be a $15,200 tax" is only true if said house was bought for $150,000.