Vail Daily letter: Information was wrong
Avon, CO Colorado
In response to Fredric Butler’s April 26 letter on Obama promises, some of the information presented by Mr. Butler is flat-out wrong. The 3.8 percent surcharge tax on real estate is only for taxpayers making over $250,000 per year (filing joint), not, as he stated, for all taxpayers. Also, the first $500,000 profit of a home sale is excluded.
These two facts mean that most Americans will pay no additional tax on sale of their home! For a complete explanation, see factcheck.org.