3.8% Real Estate Tax
In 2010, the US Congress passed legislation that will impose a 3.8% tax on some investment income. This tax was imposed to help cover the cost of the health care and medicare overhaul plans. There is misconception that this will apply to all real estate transactions. The tax will take effect January 1, 2013.
The National Association of Realtors has a brochure that details how the tax will be imposed. See the link below.
