Many people have questions about the 3.8% tax on real estate, a tax to help pay for Medicare, that will go into effect January 1, 2013. This tax will be levied on investment income and other non-wage income for high income individuals and households. If you’re interested in finding out more information, you can download the National Association of Realtors’ digital brochure (see bottom of page) that explains this tax in detail. The brochure gives seven different scenarios showing how the tax would be calculated. Keep in mind the rules of the tax are complex and these scenarios may not cover your specific situation. Please consult your tax advisor on how the tax applies to you.
Download Digital Brochure: