Coming: A “Medicare Tax” If You Sell Your Property

“The Medicare tax could pack a punch for certain investors. It is not a sales tax. And it won’t apply to home-sale gains excluded from income under current law. But it could affect investors with outsize gains or gains from the sale of a vacation home or investment property.  Determining whether you will be subject to the tax is no easy matter.  Here’s what we do know.  The new tax will hit individuals with more than $200,000 in adjusted gross income, and married couples with adjusted gross income above $250,000 ($125,000 for married taxpayers filing separately). These thresholds are not indexed for inflation.”

http://www.economicpolicyjournal.com/2012/10/coming-medicare-tax-if-you-sell-your.html

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