Taxes Taxes Taxes

Tuesday, February 08, 2011

You might be wondering about the 3.8% sales tax on real estate that will take effect starting January 2013. It will NOT be imposed on all real estate transactions, and it is NOT a real estate transfer tax. The new tax legislation may impose a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI. To get you up to speed about this new tax legislation, the National Association of Realtors® (NAR) has developed an informational brochure with different examples and scenarios to help illustrate when the tax will apply. Click here to view the brochure.

While we’re on the subject of taxes, here is a link to the Colorado tax forms.

Federal tax forms can be found at

Steph Fairchild

About the Author
Josh Cook
Josh Cook is The Boyd Team’s Digital Marketing Specialist. In today’s online world, having someone who knows the industry and trends is a must. Real Estate has become increasingly internet-centric, having Josh on the team to meet those needs sets The Boyd Team apart. He continues to strive to make the Boyd Team’s internet presence as expansive as possible enhancing each listing’s presence.