“The housing market may indeed be recovering, as many experts suggest, but investors are still struggling to understand what, if any, taxes they’ll owe upon selling their homes. At issue is how the new “Medicare tax” will apply to real-estate transactions.”
I am interested to hear from the experts as to what they think the impact will be on home/ vacation home sales if any.
[quote=SD Realtor]I honestly think it will have no effect at all on the housing market.[/quote]
Agree entirely. Some people will be subject to the tax. I suspect that for those selling their principle residence that number will be very close to zero. Actually, that’s something I’d like some feedback on. How many current home sales of principle residences would result in a gain of more than $250K for single and $500K for married homeowners? I’d be shocked if that number is very high.
It will apply to investors. Or at least some investors. Successful flippers. But I’d be surprised if it will adversely affect values.
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