From Reuters comes the reality of investment income tax hikes to pay for Obamacare and the more than 150 pages of IRS rules that have just been released.
The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.
The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.
The tax applies to a broad range of investment securities ranging fromstocks and bonds to commodity securities and specialized derivatives.
