Questions Concerning Sale of House and New Healthcare Law

If you sell your house and make a profit, you’ll likely be paying a new 3.8 percent tax on the gain. The law includes about half a trillion dollars in tax hikes, including a new 3.8 percent tax on gains from selling any asset, including your home, small business, stocks or bonds, effective Jan. 1, 2013. That’s on top of capital-gains taxes and applies to any profit that pushes your income over $200,000.

That’s on top of capital-gains taxes and applies to any profit that pushes your income over $200,000.
http://www.nypost.com/p/news/opinion/opedcolumnists/beware_obamacare_now_reality_YT42eCrsbtZC3KbDONGm4O



I guess that's given even if sale originates in Mexico? And rules are still being written.

The US collects income tax on any income its citizens earn. It doesn't matter where the income is made. This has been the deal for a long time, certainly since Reagan's administration. Many countries have some kind of reciprocity, but not the US. For example, when I worked in Australia I was liable for tax in Australia, where I was working, and in the US, because I'm a US citizen. The company "equalized" me, paying the excess tax.

espíritu del lago wrote:
If you sell your house and make a profit, you’ll likely be paying a new 3.8 percent tax on the gain. The law includes about half a trillion dollars in tax hikes, including a new 3.8 percent tax on gains from selling any asset, including your home, small business, stocks or bonds, effective Jan. 1, 2013. That’s on top of capital-gains taxes and applies to any profit that pushes your income over $200,000.
That’s on top of capital-gains taxes and applies to any profit that pushes your income over $200,000.
http://www.nypost.com/p/news/opinion/opedcolumnists/beware_obamacare_now_reality_YT42eCrsbtZC3KbDONGm4O
I guess that's given even if sale originates in Mexico? And rules are still being written.

Please see Snopes for more details on the 3.8% tax, for a better definition of how it applies. There are a lot of exclusions
Snopes link on the 3.8% tax