The new 3.8 tax on home sales can be confusing to many since the details on Obamacare are just surfacing. Jesse Madison is a real estate broker in Orange County, CA and is not a CPA or attorney. Please consult your accountant regarding all real estate tax issues and all taxes pertaining to the new Obamacare law.
However, the California Association of Realtors (CAR) has provided us with their analysis of the 3.8% tax: Here is their video describing what is to come.
What’s True, What’s Not
3.8 tax on home sales