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

I just did a 1031 exchange. I sold a duplex in Florida that I bought for $300,000 and sold for 665,000 and cleared $620,000 and bought two homes in Texas for a total of $640,000 plus closing cost. I did it through a 1031 exchange company.

I really like you. Trustworthy lawyer accountant.

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

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

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.

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?

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!

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

(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

Love these videos!

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?

Great Video, very easy to follow and understand.

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

The best explanation. Thank you

If I sell my property so can I account interest & renovating property in to my capital amount to reduce gain on value? Also can you just invest gain amount only in another property and not capital from first property to avoid paying tax?

Can I use the 1031 if I buy a home in another country?

Comment on saving on capital gains by doing an installment sale.

How do you not pay taxes on a partnership level ?

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.

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

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!

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

I wish the tax code would allow 1031 into a REIT for landlords that are retired and don't want to be landlords anymore.

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 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.

Why would you have depreciation recapture on a primary residence that you live in 2 of the last 5 years (meaning you rented it) when you sell it? (8:07)?

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.

Good to know, thanks!

Hello I read online that if you bought your home Prior to Jan 01, 2009 none of this being in the home 2 of 5 years apply to you. For example if I bought my house in 1999 (which I did), and lived in it for 7 years t hen rented it out , (still rented today), none of this should apply to me and im grandfathered in and can keep any profits I make...is this true? How do you interpret this rule?

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?

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?

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

How do you legally pay 0% on capital gains for a home that sells for $410,000.00, after the first $250,000, balance of $160,000. If I want to purchase another home, do I still need to pay taxes on the $160,000? Thank you.

Does the property that one buys to reinvest their money in have to be in the USA...say a place in Thailand that becomes rental property?

@TobyMathis what about capital gains on land (in my case wetland)?

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.

Thank you. If I put the property into a Wyoming land trust, will that trigger capital gain?

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.

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

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?

Thank you

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

I dont understand when your tax is 0% -- there are no capital gain tax - when is your tax bracket 0% ?

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

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?

Thank u

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?

Thanks!

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

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

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?

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

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?

I had invest put up 100 thousand and I put 15000.00 then I fix it up we sold it 180 thousand I stuck with 36. Thousand dollars taxes after I put up 22 thousand in to it

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

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

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

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!

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?

Is this applicable in Canada?

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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.

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

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?

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?

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.

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

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.

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 ?

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

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

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?

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

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

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

Er...Move to Hong Kong?

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?

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

I’m confused

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.

Coach!!!

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

Yeah sell below costs. No caputal gains to pay

2 min : 04 seconds. Listen again

Flip mobile homes, made a fortune

👍😎👍

$250,000 is nothing that helps

#4: be poor.

In Canada or US?