Get the facts re. Texas Real Estate

I have had several of my clients ask me about this so thought it important to re post this article from Texas Association of Realtor's. Wondering if you have heard this too?    Do your clients owe a 3.8% tax on their home sale? A rumor about a 3.8% federal tax on all home sales has again hit the in-boxes of Texas consumers and real estate agents. So, is there such a tax for all home sales? No. The facts are that individuals with incomes over $200,000 a year ($250,000 for married couples) will be subject to a 3.8% tax on profits of more than $250,000 ($500,000 for couples) from the sale of a primary residence. So, a husband and wife who make more than $250,000 a year and sell their home for $510,000 more than their purchase price would pay $380.

Let me know if you have questions or concerns regarding this and if I can answer any questions with selling, leasing, buying and investing in real estate. Also let me know how I can better assist you in nay way too!

Steve Young

Steve Young
RE/MAX Associates
(817) 276-5149
www.steveyoung.pro
www.steveyoungtexasrealestate.pro

Senior Real Estate Specialist

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