Clarks Hill - Strom Thurmond Lake Topics: NOT TRUE
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Name:   GoneFishin The author of this post is registered as a member - Email Member
Subject:   NOT TRUE
Date:   7/10/2012 8:43:19 PM (updated 7/10/2012 8:47:49 PM)

The example is not true. From Forbes, the tax applies only to couples with adjusted gross income of $250,000 (or individuals with AGI of $200,000). About 95 percent of households make less than that, and will be exempt from the law no matter what.

In addition, couples who sell a personal residence can exclude the first $500,000 in profit from tax ($250,000 for singles). That would be profit from a home sale, not proceeds. So a couple that bought a house for $100,000 and sold it for $599,000 would owe no tax, even under the health law.

If that couple had AGI in excess of $250,000 and made a profit of $500,010, it would owe the new tax. On ten bucks. That would be an extra 38 cent.
Other messages in this thread:View Entire Thread
home owners & voters beware !! a must read-- - lucky67 - 7/10/2012 7:04:04 PM
     home owners & voters beware !! a must read-- - Kizma Anuice - 7/10/2012 7:53:09 PM
          NOT TRUE - GoneFishin - 7/10/2012 8:43:19 PM
               GOOFY - wix - 7/10/2012 10:27:22 PM
                    GOOFY - Kizma Anuice - 7/10/2012 10:35:05 PM
          home owners & voters beware !! a must read-- - bushhog - 7/11/2012 3:13:51 PM
               What!?!? - Lifer - 7/11/2012 3:27:49 PM
     home owners & voters beware !! a must read-- - Casey - 7/10/2012 8:51:52 PM
          home owners & voters beware !! a must read-- - BigFoot - 7/11/2012 10:23:44 AM
     home owners & voters beware !! a must read-- - Samdog - 7/10/2012 10:25:26 PM



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