Indiana REALTOR® News - January 20, 2012

In this issue:  3.8% Tax Will Not be Imposed on All Real Estate Transactions, Says NAR
Information on Taxes for 2012 Dues
Stay in the Statehouse Loop with IAR Text Club & Capitol Corner
Get to Know Your Clients with the 2011 Profile of Home Buyers and Sellers
Don't Commit a License Violation
ZipForm®6 and DigitalInk® Training Sessions Available
Congrats GRI Graduates
RECP Offers Accelerated 9-day Pre-licensing Sales Course

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NAR Clears Confusion on 3.8% Tax
WILL NOT Be Imposed on All Real Estate Transactions

Beginning January 1, 2013, a new 3.8 percent tax on some investment income will take effect. Since this new tax will affect some real estate transactions, it is important for REALTORS® to clearly understand the tax and how it could impact your clients. It’s a complicated tax, so you won’t be able to predict how it will affect every buyer or seller.

To get you up to speed about this new tax legislation, NAR has developed this informational brochure. As you go through the brochure, you’ll read examples of different scenarios in which this new tax — passed by Congress in 2010 with the intent of generating an estimated $210 billion to help fund President Barack Obama’s health care and Medicare overhaul plans — could be relevant to your clients.

Understand that this tax WILL NOT be imposed on all real estate transactions, a common misconception. Rather, when the legislation becomes effective in 2013, it 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.


Info on Taxes for 2012 Dues
To Deduct or Not to Deduct
Before filing your 2011 taxes, be sure to contact your local Board/Association for specific non-deductible tax information.  Due to the discrepancy among dues billing dates, your local Board/Association will have the details you need.


State Legislators Convene for 2012 Session
Stay in the Loop with the IAR Text Club & Capitol Corner email

Stay in the Loop with the IAR Text Club & Capitol Corner email

State legislators convened the first week of January, a fact that surely wasn’t lost on you with all the controversy they’ve generated thus far. While we will include the big news from the Statehouse in the Indiana REALTOR® Advocate, you can get more timely news from the weekly Capitol Corner email. A subscription is necessary; here’s how to sign-up.  Please contact Nikki Meunier, IAR Graphic Designer, for help subscribing at

You can also sign-up for the IAR Text Club, a tool our Government Affairs staff uses to let members know about pertinent Statehouse news as it happens. Just text IAR to 71813. Standard messaging rates apply.

Capitol Corner: Subscribe Now
Text Club


IAR Helps You Know Your Clients
2011 Profile of Home Buyers and Sellers Now Available
The NAR Research department annually produces a nationwide Profile of Home Buyers and Sellers. State and local associations are given the opportunity to purchase an oversample to the survey in order to get an even better understanding of buyers and sellers in their particular jurisdiction. IAR elected to do this in 2011, as we have for the past several years.
Here’s the 2011 Profile of Home Buyers and Sellers in Indiana. There’s a lot to it, so we suggest you begin with the Executive Summary and dive deeper when you have the time. But, it’s all worth it when you find out what those active in the marketplace really think and do.


Professional Standards Training Starts in February
2012 Registration is Open
IAR is pleased to announce that Bruce Aydt will again lead its annual Professional Standards Training (PST), making five stops around the state starting in February.  Classes will cover the foundation of the Professional Standards process and the latest changes to the Code of Ethics.  Also, PST will provide advanced training on how to write quality Findings of Fact and high-level training for Hearing Panel Chairpersons.

PST fulfills the National Association of REALTORS® quadrennial ethics training requirement.

Dates and locations with registration here:
February 29 - Aurora
March 1 - Evansville
March 7 - South Bend
March 8 - Kokomo
March 9 - Fort Wayne 

  Violation Station 4th quarter

IAR's Senior Staff Counsel, Kelly Shonborn, Esq., explains the types of violations found by the Real Estate Commission in this quarter's installment of Violation Station. Read more >



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Q: Does RECP offer online continuing education?

A: Yes, RECP offers...


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IAR would like to congratulate recent graduates of the Graduate REALTOR® Institute (GRI) program. The GRI designation is the most recognized and respected professional designation available to real estate
professionals nationwide. 
Congrats to the most recent GRI graduates >>



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