The Facts: National Real Estate Tax

CharlestonRealtors.com

No real estate transfer tax in health care bill

ISSUE: There is no national real estate transfer tax in the Health Care bill passed by Congress.

WHAT THERE IS: There is a 3.8% Medicare tax on investment income as defined as interest, dividends, capital gains and net rents. The 3.8% Medicare tax is imposed ONLY on those individuals with more than $200,000 of Adjusted Gross Income (AGI) ($250,000 on a joint return).

Henrietta’s rental income is from a trade or business so it is NOT treated as investment income. Thus, she is NOT subject to the 3.8% investment income tax.

Questions?

Ryan CastleGovernment Affairs DirectorCharleston Trident Association of REALTORSRyan@CharlestonRealtors.com843.763-5212

@ryanfcastle

www.ryanfcastle.com

The Facts: National Real Estate Tax

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