Hi everyone. Haven't posted for a while, but this one has me a bit concerned. This thread from another "city" Real Estate forum was abruptly closed in the middle of the night, and moved to their "Controversies" forum where it will soon be buried from any public view. http://www.city-data.com/forum/poli...s/2851501-gop-tax-plan-change-rules-sale.html I encourage you to read the entire thread as there is some good info in there. The rug is getting ready to be pulled, and not just to current people who have their homes listed for sale, but for just about anyone who was recently planning on selling at a tax exempt level. You see, under the current rules people can sell their homes tax free as long as they have lived their 2 of the past 5 years. What this new bill will do is effectively change those requirements to 5 of the last 8 years! On top of that it will become effective on 12.31.17, just 4-5 weeks from now! On top of that, if you didn't save your receipts while fixing up your home over the past years, decades, whatever, than you WON'T be able to claim those costs as being tax deductible. What's that mean? You guessed it, most people who sell after 12.31.17 will effectively be double taxed for selling their home!! This means ANYONE who has there house for sale right now, who were planning to sell tax exempt, will now be charged as income if the owners sells at a profit. But it's much worse. And basically NOBODY knows about any of this, not even the Senators who are getting ready to pass it. This new plan will likely put a choke hold on Real Estate sales volume, and we should also see the affect continued through much of the economy. This Tax Bill, particularly sec. 1402, is designed to keep people put for longer periods of time. But I believe we will see grave consequences for doing so. To be fair, I should disclose that I voted Repubs nearly across the board last year, but this is getting scary what they are about to do. This move is about them, the Gov't making a HUGE power, land, and money grab. If this thing passes, we're toast IMO. What do some of you think?