3.8% tax coming on all home sales!? What the #@$&*!?

While there is some current outrage over this in the discussion (in Colorado real estate circles and beyond) around Obamacare (from which this “3.8%” number is based), the truth is that it does not kick in on ALL home sales. Only those for which the profit or gain exceeds the current capital gains threshold of $250K per person (or $500K if filing jointly). Bummer for some home owners? No question. But most people won’t be paying a tax on the sale of their home of course. Doesn’t make it right…I’m just clarifying the facts. 🙂