How to LEGALLY Pay 0% Capital Gains Tax on Real Estate

Рет қаралды 115,477

Toby Mathis Esq | Tax Planning & Asset Protection

Күн бұрын

Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: aba.link/271618
Is it legally possible to pay 0% capital gains tax on real estate? In this video, I'll show you how to legally pay 0% capital gains tax on real estate purchases.
"You can have income but still be at zero." 6:52
This video is for people buying or selling a property who want to avoid paying capital gains. I'll explain everything you need to know about capital gains tax and how to avoid paying it legally. I'll also give you some tips on how to make the most of your real estate transactions!
You're in luck if you want to avoid paying capital gains tax on your real estate investments! You'll be able to avoid paying thousands of dollars in taxes on your real estate investments by following the rules provided here.
To do this, you must understand the definition of capital gains and how it applies to your transactions.
Capital gains are the difference between the cost basis of a property and its sale price. Capital gains tax is based on this difference, and it can be significant if you neglect to take the proper steps.
Not only will this save you money on your taxes, but it will also save you time and hassle!
If you have any questions regarding capital gains tax or other investment strategies, then be sure to comment below.
Show Notes:
0:00 Intro
0:45 Depreciation
2:36 121 Exclusion
4:34 Tax Bracket
7:23 1031 Exchange
10:18 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#capitalgains #taxes

Пікірлер: 136

@TobyMathis 5 ай бұрын

Have questions about this video? Sign up for a free consultation to get your questions answered by the professionals. 👉 aba.link/271618

@justinlee6270 2 ай бұрын

If I had 4.5 mil in IRA/401k/Brokerage savings how would you invest a sale of land of 9.3 mil with a basis of 500k? If you were also thinking of retiring next 1-2 yrs. Thanks Jlee

@Wolvenstar 10 ай бұрын

Well, now those are really good to know and to consider. Thank you once again.

@addyz-ho3ow 10 ай бұрын

Thanks for sharing your knowledge Toby. I really enjoy watching your videos . Addy

@TobyMathis 10 ай бұрын

Glad you like them! Thank you for watching my channel 👍

@JR-bx6kw 10 ай бұрын

Love these videos!

@TobyMathis 10 ай бұрын

More to come so be sure to subscribe to the channel! 👍

@gracielaherrera6394 10 ай бұрын

Thank you for the videos! I am leaning and is beneficial for me. How do I get myself down to zero percent tax bracket for my 2023 income tax? I have capital gains of $92,000 for an investment house I already sold. Thank you!

@wendy2cc 10 ай бұрын

Great info. again. First video I ever watched, I shared.

@vaskenderboghossian8061 10 ай бұрын

Toby is THE best in this field .. tax deduction on real estate , capital gain , trusts , etc Wealth of knowledge

@wendy2cc 10 ай бұрын

@@vaskenderboghossian8061 He definitely is a wealth of knowledge!

@TobyMathis 10 ай бұрын

Awesome, thank you for watching and sharing!

@willmallory9085 10 ай бұрын

Thank you

@violetabrown256 4 ай бұрын

The best explanation. Thank you

@TobyMathis 4 ай бұрын

I'm glad you found the explanation helpful! Thank you for watching!

@TobyMathis Ай бұрын

Learn how to use the IRS tax code to your advantage and keep more of what you earn during this free webinar. aba.link/tqf

@mcmike6190 Ай бұрын

Hi Toby, great stuff, thank you. When you talk about household income and tax brackets for retirees in example 2, how does VA disability play into that amount? VA disability is not subject to state and federal taxes, but does the income amount count against you in this scenario? Thank you.

@lseh4720 10 ай бұрын

I really like you. Trustworthy lawyer accountant.

@TobyMathis 10 ай бұрын

Thank you 😄

@stevehernandez8878 10 ай бұрын

Every time I watch a KZfaq video of yours, this Mexican learns something 😂😂. Thank you Toby

@raulduke2337 10 ай бұрын

Good to know, thanks!

@TobyMathis 10 ай бұрын

Happy to help! Subscribe to the channel for more great free resources. 👍

@Charlene-gs9kf 5 ай бұрын

If my income is $0, then is there a limit to how much investment income (capital gain) is really 0%? Eric Bronnenkant, CPA - Betterment: "Even if taxpayers have no taxable income, the 0% rate on LTCG only works up to the income-level threshold."@@TobyMathis

@juliecollamore8098 5 ай бұрын

When you sell your primary home for a profit doesn’t the gain get added to your adjusted gross Income which would push you into another tax bracket?

@nidasalvador9705 10 ай бұрын

Thank u

@TobyMathis 10 ай бұрын

Thank you for watching!

@resterAnonyme 10 ай бұрын

On the 121 Exclusion can I wait until 3-years after I begin renting my personal residence and sell it to my LLC with a note so that I can capture an even larger capital gain?

@303Estates 9 ай бұрын

Great Video!! As always!! I followed your great advice and set up a Wyoming LLC. How can I use that to keep a sale of rental properties on the down low of IRS (or maybe a land trust). IS this doable?

@TobyMathis 9 ай бұрын

Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

@user-sv3kx5dt2q 2 ай бұрын

i have a house no mortage it has been rented , i now want to sale it how do i avoid paying the I RS my taxe advisor said move there and live two years, but i love the house i live in now

@raystark1435 21 күн бұрын

Thanks!

@TobyMathis 21 күн бұрын

Thank you for the super thanks!

@kevinmccfp Ай бұрын

How does capital gains tax work if I have an investment property that’s been depreciated and I move into it as a primary residence I live in it for two years and then sell it. One do I have to recapture the depreciation and two is capital gains tax on the difference in value over recapture the depreciation?

@user-xg3jt3oj9v Ай бұрын

250,000 ain't shit 40 years in my house 600,000 gain for me , can't afford to sell and buy a bigger house or downsize greedy government and they can't balance there budget

@fredc1536 17 күн бұрын

If you are married have 500k excluded. Over the 40 years how much did you spend on improvements, that also adds to your cost basis. Worst case you may have to pay tax on 100k

@user-xg3jt3oj9v 17 күн бұрын

Not married

@Seaward1224 21 күн бұрын

Is this applicable in Canada?

@moodswings2537 10 ай бұрын

Do I need to start a retirement ROTH before investing and i have no credit cards but i have collections from the past do i need to pay this off as debt before increasing as well? Thanks TM love your videos!

@TobyMathis 10 ай бұрын

I recommend signing up for a free membership with Infinity Investing, that way you can attend the various free events offered and learn how to utilize retirement accounts. infinityinvesting.com/pricing/

@LAKitchen 10 ай бұрын

Can you cover avoiding prop tax reassessment in CA when gifting rentals to kids IF they were not originally purchased in an LLC

@carlandersen9364 5 ай бұрын

California Prop 19 eliminated the parent to child exclusion on inherited property unless they plan to live in the property.

@SimonCU 2 ай бұрын

how about inheritance tax on property after the previous owner dies and i inherit the property?

@jillkrueger 18 сағат бұрын

Hi Toby! Your channel is amazing! I have learned so much from your content. Thank you! I have a question for you: I want to ensure I understand the zero % tax bracket you mention in this video. My parents must sell their primary residence this year. They are no longer able to care for themselves at home due to health issues. My sisters and I just moved them into an assisted living community. The sale of their home will fund assisted living. I am trying to calculate the amount of capital gains they will pay. I believe my parents fall within the zero % tax bracket but am not certain. My 80 year old parents are retirees and make 70K/year between their pension and SS (under the 90K ceiling). I have estimated that they will make a 1.14 million dollar profit from the sale of their home in 2024 (this is after taking into account the 121 exclusion, home improvements, real estate fees, etc.) Will they fall within the zero % tax bracket for long term capital gains based entirely on their annual income OR is it their annual income + the profit they will make on the sale of their property? In other words, in 2024, will their income bracket be considered 70K or 1.2 million? Thanks so much!

@timothybracken1728 10 ай бұрын

How do you not pay taxes on a partnership level ?

@atlasfueloilinc.2421 Ай бұрын

(NYC) Sounds great but my wife and I bought our house for 210,000 and it’s worth between 1.6m - 1.8m (28 yrs later) all paid off , never rented always my family use. Never took any deductions except mortgage interest. I know about the 121 but still have about 700,000Gain. Can I sell or gift a portion of the property to my 3 adult children. I make 125,000 a yr and I would like to sell but not lose a ton in capital gains. How would you structure a sale that benefits my family. Thank you. Eric

@unipulsemedia1413 9 күн бұрын

@TobyMathis Thanks for the informative video, Does the replacement property have to be similar in nature. E.g. I sell my primary residence with a capital gain of 600k, but I re-invest that money into an investment property within 30 day, but it won't be my primary residence, will I still be able to avoid capital gains tax.

@TobyMathis 7 күн бұрын

Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. aba.link/271618

@jeffreyd508 4 ай бұрын

Hi, as a U.S. citizen, if I bought a new construction condo in 2019 in Ukraine, and builder/project went BK, and recently, the city of Kyiv repossesed the land they were building on, claiming it was gotten fraudently in 2006 involving a bribe. Dead project Not sure how to write off this loss. Can't find any info. Do you know, or if not, where I can find such info? Thanks

@garywing4964 2 ай бұрын

Hey there, I am wondering about selling property in the US and using your suggested property gains tax ideas. Can I reinvest that into property in another country and avoid capital gains that way as well?

@TobyMathis 2 ай бұрын

Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. aba.link/tobyss

@Ritchie757 10 ай бұрын

Coach please I want to know how to not paying capital gain on securities.

@TobyMathis 10 ай бұрын

@marcietorrence5361 18 күн бұрын

What if you sell a vacation home at age 68, with a $12000 a year income, what percentage income tax do you pay on the gains?

@southcarolinarealestatewit1329 6 ай бұрын

Question! How do you avoid paying taxes on the sale of raw land? I've only owned the land for two years and never receive any income on the property. As the was land was never leased. I was looking to built a home however things have changed.

@TobyMathis 6 ай бұрын

Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/taptoby

@benzun9600 5 ай бұрын

I am in the same situation have been researching but seems like you must pay the gains tax somehow

@Kimberly__Klein 9 ай бұрын

Question: if you 1031 an investment prop into another investment prop that is in a no cap gains state can you sell that prop and pay no cap gains?

@TobyMathis 9 ай бұрын

There are two levels of cap gains: federal and state. A no state tax state does not mean it is exempt from federal tax. So if you 1031 from a property in a state with a state cap gain into a property in a state with no state cap gain, you have only deferred both the state and federal taxes on the gain and recapture. Once you sell without a 1031, you will owe federal tax on the gain as well as the deferred state tax on the sale of the property in the state with a state tax on gains.

@jasondelacruz6522 10 ай бұрын

Does the $90K cap for a 0% long term capital gains rate include earned income or just realized capital gains?

@jazzmusicfan 10 ай бұрын

Capital gains only.

@davidschock9952 2 ай бұрын

On a 1031 exchange does the gain follow the n w purchase or is it reset at the time of the exchange?

@TobyMathis Ай бұрын

Generally, in a 1031, the gain is rolled into the replacement property, not reset. So, if you 1031 continually and then sell down the road, the capital gains tax could be rather large. However, if you 1031 until you die, then pass the property to your heirs, they will receive a step-up in basis, which will reset it (wiping out any taxable gains).

@timelessfinancialservices4364 6 ай бұрын

For the 121 exclusion if you brought the house via the LLC name (holding company or operating company for example) and you sell it do you get the 250 or 500k exclusion?

@TobyMathis 6 ай бұрын

Yes - see 26 CFR § 1.121-1 (the LLC must be disregarded for tax purposes).

@TobyMathis 6 ай бұрын

Thank you for sharing. People should know that these opportunities exist.

@musictosoothe 6 ай бұрын

So it seems to work like this? The qualifying income level doesn't include the capital gain for that year, (ie, if you earn $50000, but sell a house for a gain of $70000, your qualifying income is still $50000 for a zero percent taxable gain? Is this correct? I was using turbo tax to experiment with a sale and it came up with an awful lot of tax due when I thought it would be a 0 taxable gain (although there was recapture of depreciation, but still seemed like a lot). I'm going to have to retry it again and look close to see where that tax is coming from.

@TobyMathis 6 ай бұрын

Correct - gotta have earned income to contribute.

@wesleymorris1 2 ай бұрын

Howdy got a ?, i lived in my dads rental property for 15 years, we i just remodeled the whole thing, where going to sell it and use the money to put into a home we inherited when my grandmother died. Does that count as reinvesting money into a new property. Or will he have to pay capitiol gains on the rental house. Thanks. We also own a construction buisness we remodel homes, where not flippers tho.

@TobyMathis 2 ай бұрын

@paulki3406 26 күн бұрын

the gain in my house is 450k how do i avoid capital gain tax on the above 250k which is like 200k

@cecilfreeman6147 5 ай бұрын

Any way to prevent capital gains when selling vacant land that has appreciated over the years??

@TobyMathis 5 ай бұрын

Great question! I recommend you join our upcoming free Tax and Asset Protection Workshop where we'll delve into strategies tailored to your specific situation. My team will answer your question live during the stream. Save Your Seat: aba.link/746a84

@JtotheRizzo 3 ай бұрын

Quick question: Can I sell my property to my LLC for just enough where I show a $250K cap gain and then do it again in about 2 years until I bring my tax basis up to FMV?

@TobyMathis 3 ай бұрын

To address your question thoroughly and ensure it aligns with your overall financial strategy, I recommend scheduling a free strategy session. Visit: aba.link/271618

@user-px7nh7vs4b 3 ай бұрын

Thank you for the information but I am still confused. Assume 0$ tax bracket retiree with 25k annual income. Sells vacant land at 600k profit. Is the capital gain tax 0 or is it something else?

@TobyMathis 3 ай бұрын

@sharonbrittle4538 10 ай бұрын

My question is about the new IRS rule to probate a trust with the estate after March 2023 creation. How can we now protect our heirs from inheritance taxes?

@TobyMathis 10 ай бұрын

Great question, we highly recommend requesting a free 45-minute consultation to discuss inheritance taxes and how they apply to your unique situation. aba.link/tobyss

@jeffroy1059 10 ай бұрын

My question is what if you have a single family rental and you take it out of a llc and make it your primary residence for 2 years then sell it do have to pay capital gains

@kevinford1543 Ай бұрын

Good question! What's the answer?

@shirleysanchez1866 29 күн бұрын

@@kevinford1543if it becomes your primary home and it's sold at a profit, You may exclude from capital gains $250K for filing single or $500k if you file jointly anything over that will be capital gains. I know the first 90k of Capital gains is taxed at 0. I'm still learning this.🥴

@user-jy6wf9qj6b 26 күн бұрын

In terms of improvements, what if you did not maintain accurate records of substantial upgrades done over 14 years?

@TobyMathis 25 күн бұрын

To get the best answer tailored to your specific circumstances, I recommend scheduling a free consultation with my team. Visit: aba.link/271618

@TomNishihira Ай бұрын

Thanks Toby for the video, both my wife and I have W2 jobs. We also have 2 rental that provides us a gain of about $18K a year. I was recently was let go from my job and wanted some help running the numbers to see if it makes sense for me to manage the rentals myself to take the tax deductions from her W2. Could you provide me some recommendations on what numbers I need to look mybe a spreadsheet or someone that could help? Thank you and keep up the great work.

@TobyMathis 27 күн бұрын

Glad you enjoyed the video! Have you set up a consultation with my team before? If not, I would recommend scheduling one for an in-depth answer. aba.link/271618

@juanchoroxas2867 22 күн бұрын

Hi Mr Mathis, I enjoy watching your videos. I have a question. I sold a rental property in 2022 and paid large capital gains for it. I profited over $220k before taxes. I am retired since 2019 and I collect income from my rentals. In 2022, my taxable income was $44,587. In your video, option 2 I could avoid paying capital gains if I had 0 to low income bracket? Do I qualify ? If so should I amend my 2022 taxes. Thanks for your time Mr Mathis.

@TobyMathis 22 күн бұрын

I appreciate your support and glad you enjoy watching my videos! To get the best answer tailored to your specific circumstances, I recommend scheduling a free consultation with my team. Visit: aba.link/271618

@jerrym2321 28 күн бұрын

Can the value of the house be adjusted for inflation? It doesn't seem fair to have to pay capital gains when the value of the money I get for my house is so much less than the value when it was purchased 20 years ago.

@TobyMathis 27 күн бұрын

Hi, that's a great question. Have you ever signed up for a free consultation? I recommend signing up for a deeper dive for the best answer. aba.link/271618

@HapiestLitttlePlaceInTheGalaxy 21 күн бұрын

There's a 4th way, a superior way. If you have a Non Grantor, Irrevocable, Complex, Discretionary Trust with a Spendthrift Provision and sell your assets into it, all expenses of said assets are covered by the trust and all capital gains are non taxable events per IRC 643(b). This also applies to all passive income like stock sales, crypto gains,, not just real estate (applies to primary, secondary, rentals, etc) and you don't have to worry about recaptures, 1031 exchanges, etc. Not legal advice, do your own due diligence. Worth looking into. Be advised, this is a copyrighted trust, so make sure whoever creates it is authorized to sell it to you.

@user-cw7yw6er8q 5 күн бұрын

Thanks for sharing this info!

@foulapaix1915 9 ай бұрын

Can u pls Do video on capital gains of primary residence upon death of all-owners. Thank you.

@TobyMathis 9 ай бұрын

I will take your suggestion into consideration. 👍

@inaemarshall2409 2 ай бұрын

Thank you for educations about capital gain. I owned small mountain land since 1955. I bought for build get away house with my dogs but couldn't build a home financially and got old. So I sold last year 11/2023 $25,500 purchased $13,000 After cost made $11,000. Do I have to pay capital gain ? My adjustable income is after deduction over $7,000 much lower than $40,000 I am 78 years old. Please advice for me. Thank you Inae Marshall

@TobyMathis 2 ай бұрын

Thank you for sharing your situation, Inae. It's great that you're seeking advice on capital gains. I would recommend setting up a free consultation with my team to learn more. Visit: aba.link/271618

@dallasreid7755 Ай бұрын

Er...Move to Hong Kong?

@taibiservent 3 ай бұрын

Hi Toby, thanks for info...will the "1031 Exchange" option work in Georgia? just to clarify...this is a good option if we "Did not" live in the house for 2 out of 5 years (home was owned for 7yrs)...is this correct? Thanks

@TobyMathis 3 ай бұрын

Thank you for reaching out and seeking clarification on the "1031 Exchange" option in Georgia. To provide you with a comprehensive answer tailored to your specific situation, I'd recommend a detailed discussion in a strategy session. Sign up here: aba.link/271618

@ELconomics101 10 ай бұрын

Coach!!!

@todddunn945 Ай бұрын

It seems to me that passing away so your heirs can avoid tax on inherited property is a rather extreme way of avoiding taxes.

@ToddBizCoach Ай бұрын

What about installment sales of real estate? An installment sale reduces capital gain tax.

@TobyMathis Ай бұрын

Thanks for bringing up the topic of installment sales! I recommend setting up a free consultation to discus strategies and how they apply to your unique situation. Visit: aba.link/271618

@paulgill7222 Ай бұрын

In Canada or US?

@dmcdowell4414 Ай бұрын

Can I 1031 exchange a investment property and move in to it in a year and turn my primary residence into an investment property.

@TobyMathis Ай бұрын

Hi, I recommend watching this video for a full breakdown of using a 1031 exchange that is related to your question. kzfaq.info/get/bejne/o52Ra6-I1LmXe6c.html

@TeyunaSe Ай бұрын

I own a house with my daughter that we are going to sell. Does the 121 exclusion apply to co-owners as well as married couples?

@TobyMathis Ай бұрын

This exclusion is most often described or used by either single owners or married couples, but you don't have to be married, or a couple, to qualify for it. Unmarried co-owners can also use the exclusion.

@TeyunaSe Ай бұрын

@@TobyMathis Thanks!!

@brhollis-Advisor 3 ай бұрын

How do I pay no tax on property transfer to my trust? Do my beneficiaries pay taxes when I die ?

@TobyMathis 3 ай бұрын

For personalized advice tailored to your unique situation, I recommend scheduling a free strategy session with my team to provide guidance on minimizing taxes when transferring property to your trust. Visit: aba.link/271618

@user-by3pz6jd4z 4 ай бұрын

I'm a real investor. I've been buying properties under my name and transfer them under my LLC later on. Can you show us how to get a mortgage loan under an LLC without using my personal income / W2?

@TobyMathis 4 ай бұрын

@liketodabble5442 10 ай бұрын

Sold property with capital gain. Can I pay off mortgage on my current home to offset the capital gain?

@codemonkeymojo 3 ай бұрын

LOL, ummmm....no.

@user-uj4fg7jy3c 10 ай бұрын

Hi Toby My wife and three siblings split the money from the sale of their deceased parents house. What are the implications when tax time comes?

@ignaciobravo1 10 ай бұрын

Each of you will have to split the house market value in three. That will be your basis. In other words, it is really probable you will not have to pay taxes since you will sell it at market value.

@nevastrong2850 10 ай бұрын

I would confer with an experienced tax professional.

@markthebuilder9837 10 ай бұрын

The only unfortunate part of your third way to avoid tax is that I'll be dead (so I guess it really doesn't help me). LOL

@jamescrenshaw5097 10 ай бұрын

I guess there is the part about not paying tax every time you dispose of a property and pay no tax during your lifetime

@samseeton8393 2 ай бұрын

Still helps, since now you essentially have 20% more money to put towards a more valuable property. No reason to ever sell, build your nest egg and then take a cash out refinance to live on since the property can cover the interest rate and interest on debt is lower than your tax rate would be.

@user-bl8ew2no6o Ай бұрын

What if I bought my house 20 yrs ago in CA for 1.4 million and it’s is now worth 4.4 million and I sell it. Is there anything I can do about capital gains. I don’t want to buy another house. I wanted to put it in a Roth IRA for each of my children.

@TobyMathis Ай бұрын

@jeffbalog5161 2 ай бұрын

I believe the tax is deferred, so one day somebody has to pay.

@vaskenderboghossian8061 10 ай бұрын

👍😎👍

@Astral_Dusk 2 ай бұрын

Friends: Why'd y'all move back into that ol place for 2 of the remaining 5 years preceding the sale? Us: Needed that $500,000 exemption and rented out our much larger and nicer place - thankfully we last claimed the exemption over 2 years ago. Friends: Well done, ideal situation.

@dmrdmr9577 Ай бұрын

Hey Toby, I lived in my primary for 15 years then retired and rented it for 5 years to go travel. It's appreciated nearly 3x and I'm 63, how long do I need to live in it again in order to take a $250,000 capital gains exemption ?

@TobyMathis 29 күн бұрын