HOME SALES TAX

[DiveDeepSix]

HOME SALES TAX

This is not surprising with the government.

When does your home become part of your health care? After 2012!

Your vote counts big time in 2012, make sure you and all your friends and family know about this !

HOME SALES TAX

I thought you might find this interesting, -- maybe even SICKENING!

The National Association of Realtors is all over this and working to get it repealed, --

before it takes effect. But, I am very pleased we aren't the only ones who know about this

ploy to steal billions from unsuspecting homeowners. How many realtors do you think will

vote Democratic in 2012????

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?

That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill

WHICH THE SUPREME COURT JUST APPROVED,

-- and it goes into effect in 2013. Why 2013? Could it be so that it doesnt come to light until after

the 2012 elections? So, this is ‘change you can believe in’?

Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax.

If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation, --

who often downsize their homes. Does this make your November, 2012 vote more important?

Oh, you weren't aware that this was in the ObamaCare bill? Guess what; you aren't alone!

There are more than a few members of Congress that weren't aware of it either.

You can check this out for yourself at:

http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,”

President Obama, September 12, 2008

He must be stopped!

[leanonme]

I heard about this a couple weeks ago. Then later heard that is false and was put out by the Republican party. I saw it on the news for what thats worth.

[DiveDeepSix]

I heard about this a couple weeks ago. Then later heard that is false and was put out by the Republican party. I saw it on the news for what thats worth.

I heard that too and thought it was a fake, but then I went to the link for it on the GOP website itself and it appears the Dems are sneaking it in. I also talked to a friend of mine who is a realtor and he said the same thing and yes that is what it means, and yes they are trying to get it stopped. Guess we'll find out soon enough.

[cris]

This is the tax that applies to Real Estate

And yes, its a real tax, not made up

Surtax on Investment Income ($123 billion/Jan. 2013): This increase involves the creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single).

Edited July 18, 2012 by cris

[techalum]

It is true. If you go to realtor.org you will see what it really means. Much easier to undersand there as well. The link below takes you to a .pdf document that is used to inform real estate agents what it means and how it will affect the agents and their customers. Either way, it still sucks.

Check it out:

My link

Edited July 18, 2012 by techalum

[markb57]

I believe I read where Obamacare would add 21 new separate taxes.

[cris]

There are 21 new taxes....Heres the first, the other 20

are at the link below.....The Real Estate Tax is number 3

1. Individual Mandate Excise Tax(Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

http://www.economicpolicyjournal.com/2012/06/obamacare-21-new-or-higher-taxes.html

[DiveDeepSix]

There are 21 new taxes....Heres the first, the other 20

are at the link below.....The Real Estate Tax is number 3

1. Individual Mandate Excise Tax(Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

http://www.economicpolicyjournal.com/2012/06/obamacare-21-new-or-higher-taxes.html

Thanks bro, checking it out now!

[kiteman]

HOME SALES TAX

This is not surprising with the government.

When does your home become part of your health care? After 2012!

Your vote counts big time in 2012, make sure you and all your friends and family know about this !

HOME SALES TAX

I thought you might find this interesting, -- maybe even SICKENING!

The National Association of Realtors is all over this and working to get it repealed, --

before it takes effect. But, I am very pleased we aren't the only ones who know about this

ploy to steal billions from unsuspecting homeowners. How many realtors do you think will

vote Democratic in 2012????

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?

That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill

Flat out wrong!!!!!

WHICH THE SUPREME COURT JUST APPROVED,

-- and it goes into effect in 2013. Why 2013? Could it be so that it doesnt come to light until after

the 2012 elections? So, this is ‘change you can believe in’?

Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax.

If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation, --

MORE Misinformation!

who often downsize their homes. Does this make your November, 2012 vote more important?

Oh, you weren't aware that this was in the ObamaCare bill? Guess what; you aren't alone!

There are more than a few members of Congress that weren't aware of it either.

You can check this out for yourself at:

http://www.gop.gov/b...care-taxes-home

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,”

President Obama, September 12, 2008

He must be stopped!

One of the people that needs stopped is you for not researching and posting all the facts. Fear and false information isn't going to win the Republicans a single vote in the fall.

This tax applies to Singles with AGI over $200,000 and married with an AGI over $250,000. Then if you meet that criteria and sell a principle residence that nets you a capital gain of over $500,000, that amount over the $500,000 is taxable at the 3.8%.

Do you know many people that have a house that's going to net them a capital gain of over $500,000? Even someone making an adjusted gross income of $300,000-400,000 would have to get extremely lucky to have a house that could net that kind of capital gain on the sale of the property.

So if you read the law, the commitment he made in his quote still applies. Family making less than $250,000 AGI- NOT effected by this tax.

[DiveDeepSix]

Here they are thanks Cris!

Obamacare: 21 New or Higher Taxes

Ryan Ellis puts together some important data on the tax impact of Obamacare:

1. Individual Mandate Excise Tax(Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

1 Adult 2 Adults 3+ Adults

2014 1% AGI/$95 1% AGI/$190 1% AGI/$285

2015 2% AGI/$325 2% AGI/$650 2% AGI/$975

2016 + 2.5% AGI/$695 2.5% AGI/$1390 2.5% AGI/$2085

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS)

2. Employer Mandate Tax(Jan 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. This provision applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).

Combined score of individual and employer mandate tax penalty: $65 billion/10 years

3. Surtax on Investment Income ($123 billion/Jan. 2013): This increase involves the creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income

Capital Gains Dividends Other*

2010-2012 15% 15% 35%

2013+ (current law) 23.8% 43.4% 43.4%

2013+ (Obama budget) 23.8% 23.8% 43.4%

*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens.

4. Excise Tax on Comprehensive Health Insurance Plans($32 bil/Jan 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). For early retirees and high-risk professions exists a higher threshold ($11,500 single/$29,450 family). CPI +1 percentage point indexed.

5. Hike in Medicare Payroll Tax($86.8 bil/Jan 2013)

6. Medicine Cabinet Tax($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin)

7. HSA Withdrawal Tax Hike($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

8. Flexible Spending Account Cap – aka“Special Needs Kids Tax”($13 bil/Jan 2013): Imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.

9. Tax on Medical Device Manufacturers($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exemptions include items retailing for less than $100.

10. Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI; it is waived for 65+ taxpayers in 2013-2016 only.

11. Tax on Indoor Tanning Services($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons

12. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D($4.5 bil/Jan 2013)

13. Blue Cross/Blue Shield Tax Hike($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services

14. Excise Tax on Charitable Hospitals(Min$/immediate): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS

15. Tax on Innovator Drug Companies($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.

16. Tax on Health Insurers($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. The stipulation phases in gradually until 2018, and is fully-imposed on firms with $50 million in profits.

17. $500,000 Annual Executive Compensation Limit for Health Insurance Executives($0.6 bil/Jan 2013)

18. Employer Reporting of Insurance on W-2(Min$/Jan 2011): Preamble to taxing health benefits on individual tax returns.

19. Corporate 1099-MISC Information Reporting($17.1 bil/Jan 2012): Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers

20. “Black liquor” tax hike(Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel.

21. Codification of the “economic substance doctrine”(Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed.

One of the people that needs stopped is you for not researching and posting all the facts. Fear and false information isn't going to win the Republicans a single vote in the fall.

This tax applies to Singles with AGI over $200,000 and married with an AGI over $250,000. Then if you meet that criteria and sell a principle residence that nets you a capital gain of over $500,000, that amount over the $500,000 is taxable at the 3.8%.

Do you know many people that have a house that's going to net them a capital gain of over $500,000? Even someone making an adjusted gross income of $300,000-400,000 would have to get extremely lucky to have a house that could net that kind of capital gain on the sale of the property.

So if you read the law, the commitment he made in his quote still applies. Family making less than $250,000 AGI- NOT effected by this tax.

Oh Really? Well that's not what they are saying so where's your proof? What about the rest of these, Oh let me guess they don't apply either, maybe you should do some more research.

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,”

President Obama, September 12, 2008

FROM ANOTHER CONCERNED CITIZEN:

Why would you cap the flex spending accounts at 2500? this only effects individuals with low to moderate income.....

Why would you tax medical equipment... how does a tax on medical equipment make healthcare more affordable and less limited?

Why would you tax someone who pays alot of money for health insurance.... isnt obamacare suppose to reward individuals who seek better health coverage?

why would you raise the medical deduction from 7.5% to 10%..... that is a tax the poor and the middle class....

In other words.... Obama, without a doubt, has raised taxes on every single American who buys insurance..... which you are now required to do by law or pay a tax.... great...

Edited July 18, 2012 by DiveDeepSix

[armondtoth]

]Like much propaganda that you’ll see online, on some “news” program, or from people who make their living creating controversy, this one contains a kernel of truth. Rather than explain it, however, I’ll simply show you the clarification that ran in the same newspaper that printed the false information in the first place. Here’s a cut-and-paste from the Spokane Spokesman-Review dated April 3, 2010:

In his recent guest column regarding the impact of the health care bill, Paul Guppy of the Washington Policy Center claimed that a 3.8 percent tax on all home sales was a part of the recently passed legislation. This is inaccurate and needs to be corrected. The truth about the bill is that if you sell your home for a profit above the capital gains threshold of $250,000 per individual or $500,000 per couple then you would be required to pay the additional 3.8 percent tax on any gain realized over this threshold.

Most people who sell their homes will not be impacted by these new regulations. This is not a new tax on every seller, and that correction needs to be made. This tax is aimed at so-called “high earners” – if you do not fall into that category you will not pay any extra taxes upon the sale of your home. [/size][/size]

[Nadita]

Tax, tax and more tax... I didn't vote for the change in Washington

By the time, we are done paying taxes, we will be working for free... I think I am going to apply for welfare...at least I get free money to go to casinos

[Saint]

Nadita, can I come with you, welfare recipients are always at our casino's here. I see them all the time when I go. How can I apply for that, it would be so neat for Obummer to help me in this day and age. See you in Vegas with my welfare checks. :angry: :angry: No way I'm too proud to do that.

[dinar_stud]

Example #1:

Email contributed by Kathryn C., April 15, 2010:

Fwd: Health Care Real Estate Tax

Under the new health care bill - did you know that all real estate transactions are subject to a 3.8% "Sales Tax"?

You can thank Nancy, Harry & Barack (and your local Congressman) for this one.

If you sell your $400,000 home, this will be a $15,200 tax.

Remember Obama's battle cry - take from the workers and give to the drones.

------------------------------

Example #2:

Email contributed by Barbara M., July 8, 2010:

FW: New Real Estate Sales Tax

Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax. The bulk of these new taxes don’t kick in until 2013 (presumably after Obama’s re-election). You can thank Nancy, Harry and Barack and your local Democrat Congressman for this one. If you sell your $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation who often downsize their homes. Is this "Hope & Change" great or what? We can vote the bums out in November and demand that they eliminate the bill or at the very least defund it. Then in 2012 repeal it.

Analysis: While not completely false, this message does convey the erroneous impression that the health care bill passed by Congress in 2010 imposes a 3.8% sales tax on all real estate transactions.

It doesn't. Here's the real scoop, based on the best analyses I can find:

Among the several new taxes and tax increases provided for in the final legislation (see Kiplinger for a concise summary) is a 3.8% tax on investment income for "high earners" only. Revenues from the tax, which goes into effect in 2013, will be dedicated to the Medicare Trust Fund.

"High earners" are defined as individuals whose gross income is $200,000 or more, or married couples filing jointly with a combined gross income of $250,000 or more.

Moreover, the tax doesn't apply to the first $250,000 of unearned income for individual taxpayers (or $500,000 for married couples filing jointly).

Given that most taxpayers make less than $200,000 per year and most home sales don't clear profits exceeding $200,000, the vast majority of Americans won't be subject to this tax.

Source

Kiplinger article referenced:

Starting in 2013, a 0.9% Medicare surtax will apply to wages in excess of $200,000 for single taxpayers and over $250,000 for married couples. Also, for the first time ever, a Medicare tax will apply to investment income of high earners. The 3.8% levy will hit the lesser of (1) their unearned income or (2) the amount by which their adjusted gross income exceeds the $200,000 or $250,000 threshold amounts. The new law defines unearned income as interest, dividends, capital gains, annuities, royalties, and rents. Tax-exempt interest won’t be included, nor will income from retirement accounts.

.

Read more: http://www.kiplinger.com/businessresource/forecast/archive/health-care-reform-tax-hikes-on-the-way.html#ixzz210HMFcFL

[Aquarius]

I disapprove of ObamaCare as much as anyone, but it is important to have the facts. The report mentioned above is inaccurate. Here are some better details to explain the facts.

http://www.snopes.com/politics/taxes/realestate.asp

Scroll down to the section entitled "Origins" to get a true explanation.

[DiveDeepSix]

I disapprove of ObamaCare as much as anyone, but it is important to have the facts. The report mentioned above is inaccurate. Here are some better details to explain the facts.

http://www.snopes.com/politics/taxes/realestate.asp

Scroll down to the section entitled "Origins" to get a true explanation.

We talked about snopes a while back when we found out it is completely controlled by the Dems and has now been deemed unreliable. We were talking and researched several instances that were anti Obama and snopes lied about it and we proved it on the Supreme Court's website. Thanks for the post though I wouldn't trust snopes anymore, as I used to too, check it out.

[Nadita]

Nadita, can I come with you, welfare recipients are always at our casino's here. I see them all the time when I go. How can I apply for that, it would be so neat for Obummer to help me in this day and age. See you in Vegas with my welfare checks. :angry: :angry: No way I'm too proud to do that.

Saint,

I have to have 6 kids to qualify for welfare and I am short of kids lol... just wondering if dogs count lol

As far as Vegas goes, like it or not, you are going with me we just play jack with our monopoly money oopps... it will revalue before we go so.. we will have FUN without the oblafare lol lol

[Maggie123]

One of the people that needs stopped is you for not researching and posting all the facts. Fear and false information isn't going to win the Republicans a single vote in the fall.

This tax applies to Singles with AGI over $200,000 and married with an AGI over $250,000. Then if you meet that criteria and sell a principle residence that nets you a capital gain of over $500,000, that amount over the $500,000 is taxable at the 3.8%.

Do you know many people that have a house that's going to net them a capital gain of over $500,000? Even someone making an adjusted gross income of $300,000-400,000 would have to get extremely lucky to have a house that could net that kind of capital gain on the sale of the property.

So if you read the law, the commitment he made in his quote still applies. Family making less than $250,000 AGI- NOT effected by this tax.

Kiteman THANK YOU! It is a breath of fresh air for someone to bring in some truth around here! These people bring in misinformation everyday from who knows where! Just a bunch of lies.

I usually don't even check their threads because I know it's a bunch of fear based lies. I checked this one because I had not heard anything of this new law... see what they would have led me to believe? More Lies!

Thank You Armondtoth, Dinar_Stud and Aquarius for backing up the truth!

[Maggie123]

CRICKETS??? Thanks Again KiteMan!

[DiveDeepSix]

CRICKETS??? Thanks Again KiteMan!

Maggs,

Go read post #10 or I suppose the other 20 new Obummercare taxes are fake too? Just trying to look out for ya and all the rest of us, but it only helps if you read it, read the thoughts on it, check it out, then decide for yourself. Not just decide it's a lie because you don't like the side it came from. Ahh yes the truth is a breath of fresh air! Good day to you.

Edited July 19, 2012 by DiveDeepSix

[Maggie123]

Quotes from DeepDivesix and Kiteman

" DeepDiveSix said.. HOME SALES TAX

This is not surprising with the government.

When does your home become part of your health care? After 2012!

Your vote counts big time in 2012, make sure you and all your friends and family know about this !

HOME SALES TAX

I thought you might find this interesting, -- maybe even SICKENING!

The National Association of Realtors is all over this and working to get it repealed, --

before it takes effect. But, I am very pleased we aren't the only ones who know about this

ploy to steal billions from unsuspecting homeowners. How many realtors do you think will

vote Democratic in 2012????

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?

That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill

Kiteman said... Flat out wrong!!!!!

DeepDiveSix said... WHICH THE SUPREME COURT JUST APPROVED,

-- and it goes into effect in 2013. Why 2013? Could it be so that it doesnt come to light until after

the 2012 elections? So, this is ‘change you can believe in’?

Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax.

If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation, --

Kiteman said... MORE Misinformation!"

That is what I'm talking about! You did not present the truth DeepDiveSix.

Thanks to the ones who challenged your misinformation, we now know the truth about this "Home Sales Tax".

[DiveDeepSix]

http://www.gop.gov/b...care-taxes-home

Sorry Maggie but smarter people than us on this subject agree with me this is what it is stating. So your saying if my house is worth 1.5 million I won't have to pay a new tax on it after I sell it plus capital gains? Maybe I missed something but that is how I read it. Probably not alot of houses out there worth that, but have you checked the prices on lake lots, farm land, oil land, hunting land? A lot of properties with homes on them are going for more than $500,000 up here, much more, especially with the oil boom going on in ND right now.

Not sure how I posted anything untruthful as it was a paste right of a government website, your government and mine. Call a realtor and ask them what they know about it, I did, they confirmed it.

SNOPES is a joke, we had this discussion a long time ago, and proved them to be ran by the Dems and completely pro Obama and full of lies, I used to read their site a lot but no longer.

Edited July 19, 2012 by DiveDeepSix

[kiteman]

http://www.gop.gov/b...care-taxes-home

Sorry Maggie but smarter people than us on this subject agree with me this is what it is stating. So your saying if my house is worth 1.5 million I won't have to pay a new tax on it after I sell it plus capital gains? Maybe I missed something but that is how I read it. Probably not alot of houses out there worth that, but have you checked the prices on lake lots, farm land, oil land, hunting land? A lot of properties with homes on them are going for more than $500,000 up here, much more, especially with the oil boom going on in ND right now.

DeepDive,

It's not the price of the property, it's the profit on the sale of that property that has to exceed $500,000. You only have to pay the tax if you have a high AGI on your taxes AND you have over a $500,000 PROFIT on the sale of said house.

So if you sell that home for $1.5 Million, unless you bought it for under $1M, you're free of the tax.

If you bought it for $950K, then that $50K over the $500,000 is subject to the 3.8% tax. So on your $550K Capital gain, you pay a whopping $1900 in this tax.

Edited July 19, 2012 by kiteman

[DiveDeepSix]

DeepDive,

It's not the price of the property, it's the profit on the sale of that property that have to exceed $500,000. You only have to pay the tax if you have a high AGI on your taxes AND you have over a $500,000 PROFIT on the sale of said house.

So if you sell that home for $1.5 Million, unless you bought it for under $1M, you're free of the tax.

If you bought it for $950K, then that $50K over the $500,000 is subject to the 3.8% tax. So on your $550K Capital gain, you pay a whopping $1900 in this tax.

That's the point I was trying to make Kite. A lot of these people are selling off property they had for years and have paid off so they are clearing much more on these types of sales. It's not the buyers right now, it's the people selling and making a mint, I'm not one of them by the way, still waiting for an RV! It irritates me. You work all your life, pay interest, pay taxes, sell something so you have some money to give to your children or grandchildren, and they pay more taxes on pretaxed money, it never ends.

I wasn't being disrespectful towards you Maggie, so hope you didn't take it that way.

Edited July 19, 2012 by DiveDeepSix

[kiteman]

That's the point I was trying to make Kite. A lot of these people are selling off property they had for years and have paid off so they are clearing much more on these types of sales. It's not the buyers right now, it's the people selling and making a mint, I'm not one of them by the way, still waiting for an RV! It irritates me. You work all your life, pay interest, pay taxes, sell something so you have some money to give to your children or grandchildren, and they pay more taxes on pretaxed money, it never ends.

I wasn't being disrespectful towards you Maggie, so hope you didn't take it that way.

DeepDive, I understand what you're saying, but if they've kept good records on what they've paid for the home over all those years, then unless they made a profit, above and beyond those payments, of over $500,000 then they shouldn't have a problem. And unless they have an annual income of over $500k (as a family) then they're clear too.

I agree with you in principle on it, there are enough of these little hidden away taxes on everything, from all kinds of bills other than the ACA, that create this mammoth tax code we have. Need to strip that tax code down to about 100 pages and call it good.