Are you in line for the tax?
By Russ Wiles
The Arizona Republic
It’s not quite up there with alligators living in sewers, but an urban legend is forming around a provision of the Affordable Care Act recently upheld by the Supreme Court.
The health-care legislation touted by President Barack Obama includes a provision that could result in a partial capital-gain tax on homes sold by a small number of taxpayers. But e-mail blasts claiming all transactions would be subject to a housing sales tax are inaccurate, experts say.
At issue is the new 3.8 percent tax on the investment earnings of upper-income households. This provision, designed to help fund Medicare, will take effect in January unless Republicans in Congress can follow through on vows to scuttle it.
Ambiguity in Health Law Could Make Family Coverage Too Costly for Many/The New York Times
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