As I talk with potential home sellers, as well as many real estate agents, questions about the new 3.8 percent tax to help shore up medicare, etc. come up.
Unfortunately, there is a lot of misinformation going around, some is based on political agenda, but mostly, people are just confused.
Here is a link from the National Association of Realtors explaining that the 3.8 percent tax is not a real estate transfer tax. It's worth taking a minute to read and understand. There is also a video you can watch: The 3.8 Percent Tax Is Not a Real Estate Transfer Tax
Of course, this information is in no way meant to provide tax advice for individuals. Be sure to always check with your tax advisor for information that is specific to you.
I hope this information is helpful. If you would like a copy of the brochure with more examples contact me anytime with your questions about real estate.