Post on 02-Nov-2014
description
CharlestonRealtors.com
No real estate transfer tax in health care bill
ISSUE: There is no national real estate transfer tax in the Health Care bill passed by Congress.
WHAT THERE IS: There is a 3.8% Medicare tax on investment income as defined as interest, dividends, capital gains and net rents. The 3.8% Medicare tax is imposed ONLY on those individuals with more than $200,000 of Adjusted Gross Income (AGI) ($250,000 on a joint return).
CharlestonRealtors.com
CharlestonRealtors.com
Henrietta’s rental income is from a trade or business so it is NOT treated as investment income. Thus, she is NOT subject to the 3.8% investment income tax.
CharlestonRealtors.com
CharlestonRealtors.com
CharlestonRealtors.com
Questions?
Ryan CastleGovernment Affairs DirectorCharleston Trident Association of REALTORSRyan@CharlestonRealtors.com843.763-5212
@ryanfcastle
www.ryanfcastle.com