Quote:
Originally Posted by zimmy
for real estate it is 3.8% tax on real estate profits over $500,000 on the portion above $500,000. So if you sell your house and make a PROFIT of 525,000. You would pay a tax of 3.8% on $25000. So basically, you make $525000 in profits and pay $1000 in taxes on that.
The way to feed the anger is to distort reality. It is seen time and time again in this forum, typically in the original post before the details come out.
|
The $500K is for couples. $250K for single filers.