The Tax Consequences of the Patient Protection and Affordable Care Act

The Supreme Court ruling upholding the Protection and Affordable Care Act (ACA) means that almost every provision in the act will move forward. While a lot of attention has been focused on the individual mandate that will take effect in 2014, there are individual tax provisions that will take effect on “high income taxpayers” beginning in 2013.

  • A 3.8% Medicare surtax on investment income including interest, dividends and capital gains
  • A 3.8% Medicare surtax on rental and certain other passive income
  • Higher threshold for deduction of medical costs
  • Additional “hospital insurance tax” earned income
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