3.8% Tax on Real Estate Sales… Might You Have to Pay in 2013?

Posted on 26 September 2012 by vvandervort

There’s been a lot of press on this 3.8% tax on real estate sales and yet I think there are so many people who do not know about it.  I think we would get a slight bump in our inventory of homes in San Carlos if everyone who was considering selling in the next year, analyzed if they are going to get hit with a 3.8% tax on the sale if they hold off on selling until 2013.  There are several things that decide whether you have to pay the tax or not and it is also on a portion of the sale – not the whole thing.  I’ve found that this document (The 3.8% Tax) is very helpful in walking sellers through whether or not they could be responsible for paying the tax.  If you have questions, check in with your CPA.  If you need a referral for a CPA, I have a few that I’ve liked and so have my other clients.

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