Mark Rutstein, Real Estate Pro in Washington, DC

How did these people save a lot of money in taxes before the New Year?

Asked by Mark Rutstein, Washington, DC Wed Jan 16, 2013

They sold their home! Check out the recent CNN article and how this house in Chevy Chase saved $100,000 in taxes for selling before the clock turned to 2013. http://money.cnn.com/gallery/real_estate/2013/01/16/luxury-h…

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3
Natalie Dean’s answer
Wow hate to say "you snooze you lose!!!!" But I said it because its true. So here is the verdict for all investors in 2013 or in part
"Under the American Taxpayer Relief Act of 2012, the top capital gain tax rate has been permanently increased to 20% (up from 15%) for single filers with incomes above $400,000 and married couples filing jointly with incomes exceeding $450,000. In addition, the new IRC Section 1411 3.8% Medicare surtax on net investment income, which includes capital gains, results in an overall rate for higher-income taxpayers of 23.8% -- a staggering 58% increase from 2012 tax rates!"

Want additional information inbox me for some great articles. Don't hesitate in 2013 who knows what 2014 is going to bring!
0 votes Thank Flag Link Mon Jan 21, 2013
oh, timing is everything!
0 votes Thank Flag Link Thu Jan 17, 2013
That is amazing, talk about in the nick of time!
0 votes Thank Flag Link Wed Jan 16, 2013
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