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An almost 4% tax on the sale or purchase of a home was placed on everyone with property under Obamacare to also try and keep it afloat.
That would be nearly $4000 per every $100000 of home you want to buy or sell.
That's like a minimum $16,000-$20,000 fine here in California and now Hillary wants 65% of your house and estate when you die with her tax plan because you family doesn't need it as much as their big government.
To me this whole thing has become economic cancer to all working people and has to stop. Under liberals all die equally poor unless you are government elites, which is a BS situation for the voters to be in.
So if you are on an Obamacare plan and you sell your house you have to pay 4 percent on the sales price or the net proceeds?
Actually I don't suppose it matters much, it's a further burden upon the the taxpayers who act responsibly and yet another reason to vote against democrats across the board.
Last edited by enraeh; 09-24-2016 at 09:23 AM..
Reason: Content added
So the tax applies if the seller is an individual with an income exceeding $200,000 or a couple with an income more than $250,000 after deducting the non-taxed sale profit.
The good news/bad news is that in California if you owned a house for 20 or more years, you probably have so much equity that the sale price will exceed the non-taxed profit and throw the homeowner into paying the 3.8 percent tax.
My nephew was a firefighter and his wife was a teacher. When they retired and sold their house in Huntington Beach, CA, they owed taxes on hundreds of thousands of dollars (after the non-tax profit) even though they never made much money from their jobs.
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Originally Posted by pilotpair
So the tax applies if the seller is an individual with an income exceeding $200,000 or a couple with an income more than $250,000 after deducting the non-taxed sale profit.
The good news/bad news is that in California if you owned a house for 20 or more years, you probably have so much equity that the sale price will exceed the non-taxed profit and throw the homeowner into paying the 3.8 percent tax.
My nephew was a firefighter and his wife was a teacher. When they retired and sold their house in Huntington Beach, CA, they owed taxes on hundreds of thousands of dollars (after the non-tax profit) even though they never made much money from their jobs.
How exactly did they owe those taxes if they didnt meet the income threshold ?????
So if you are on an Obamacare plan and you sell your house you have to pay 4 percent on the sales price or the net proceeds?
Actually I don't suppose it matters much, it's a further burden upon the the taxpayers who act responsibly and yet another reason to vote against democrats across the board.
If you are on an Obamacare plan, whereTF did you get the money to buy a house in the first place?
If you are on an Obamacare plan, whereTF did you get the money to buy a house in the first place?
Seriously? People's situations sometime change over the course of their lives.
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