MEA CULPA! CORRECTION on last week's post regarding taxes on real estate sales!

I want to apologize for last week's post. In haste, I did not adequately vet it with other sources and the information was misleading.  I have included the information from the trusted National Association of Realtors site, as well have attached the complete brochure.

Thank you, everyone for your thoughtful replies.  No one makes a conscious decision to provide misleading information. It was an error in process and I take full responsibility for it. The good news is that I learned that people actually do pay a little attention to my posts and the even better news is that this back and forth, this collaboration of sorts, gives everyone the opportunity to learn.

I welcome all your comments, keep them coming!  

http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-tax/