FactCheck.Org is a great site for getting the scoop on any rumor or half-truth. Earlier this year they took on the question of house sales and tax…
Q: Does the new health care law impose a 3.8 percent tax on profits from selling your home?
A: No, with very few exceptions. The first $250,000 in profit from the sale of a personal residence won’t be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few — those with high incomes from other sources.
Submitted by Buyers Real Estate Group Agent, Mary Rugani