Real estate capital gains tax, avoiding taxes when selling a house!

Sellers are wondering, “when you sell a house do you have to pay taxes?” The answer could be yes, but first you need to see if you have enough real estate capital gains to have to pay the real estate capital gains tax! We are here to share how to avoid paying taxes when selling a house by using the section 121 exclusion and the 2 out of 5 years rule! We cover this and more:

✔️ When you sell a house do you have to pay taxes❓
✔️ How do you calculate real estate capital gains❓
✔️ If you owe real estate capital gains tax, when do you pay it❓
✔️ What is the section 121 exclusion❓
✔️ How much real estate real estate capital gains can we avoid paying real estate capital gains taxes on❓
✔️ What are examples of “2 out of 5 years rule” and Section 121❓

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Sections
00:00 WIRE Associates intro from Christian Walsh
01:00 Capital Gain
01:47 Which tax?
02:12 IRC Section 121
03:10 Two out of five years
05:45 Calculating capital gains
09:31 Capital gains and a loan
10:39 Owing real estate capital gains tax
11:02 When you sell a house do you have to pay taxes?

#RealEstateCapitalGainsTax #HousingMarket2021 #HomeSellingTips

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This is not meant to be a solicitation of a property currently under contract. This is not meant to be legal or tax advice, please consult with the appropriate professional. We are licensed to sell real estate in California (if you need help elsewhere, we can help find a good broker, let us know), CalRE # 01804983. Coldwell Banker Realty Owned by a subsidiary of Realogy Brokerage Group LLC. CalRE # 00616212.
*This description may contain affiliate links. When you click them, I may receive a small commission at no extra cost to you. As an Amazon Associate I earn from qualifying purchases. I only recommend products and services that I've used or have experience with. All opinions are my own.

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