There is some truth to this rumor, although it isn't nearly as comprehensive as Obamacare critics are arguing. In reality, the new tax, which goes into effect in 2013, would only apply to households making more than $200,000 per year, and would only be levied on extremely profitable capital gains. To be specific, you will have to pay this tax if you:
- Make more than $200,000 per year ($250,000, if you're married);
- Sell your home;
- And make more than $250,000 in profit on the sale ($500,000, if you're married).
Then you would have to pay a 3.8% tax on any profits above $250,000 ($500,000, if you're married). So, for example, if you and your wife earn $260,000 a year, and your sell your house for $510,000 more than you paid for it, then you would have to pay 3.8% tax on $10,000 ... or $380.
A grain of truth, yes -- but not quite as daunting home sales tax as the critics are arguing.