Avoid Capital Gains Tax on Real Estate LEGALLY

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Information Avoid Capital Gains Tax on Real Estate LEGALLY

Title	:	Avoid Capital Gains Tax on Real Estate LEGALLY
Lasting	:	7.09
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How can I like this video twice? I think that people shy away from the hard topics, and taxes is sometimes considered hard But each of us has a responsibility to learn about the tax rules and utilize the ones that apply to us, especially in this industry My favorite line though was "forget my kids!"--perfect combination of facts and humor! Keep 'em coming!
Comment from : Leathelandlady

So buy multi family and rent the basement to a family member and file it as your primary residence
Comment from : mistere early

Question, I bought my house 2 years ago and lived there since If I sell it, can I still take advantage of the 121 exclusion if I haven't owned the house for over 5 years? thank you
Comment from : Jesus Vela

100k condo is not realistic
Comment from : Gabriel Allard

The 1031 exchange not as easy as “some” think it is You MUST finance these properties with a bank note 1031 does not allow for cash purchases and repurchases
Comment from : Don’t Tread On Me

USA?
Comment from : W Ch

I am real estate agent The first thing I advise people is to talk to a tax professional and never take tax advise from a real estate agentsbrbrIf I follow the advice in this video I would expect to have a $250K exception if I lived in my property for 2 of the last 5 years and that is just not true Although I would be eligible for the exemption, it would not be $250K
Comment from : Vince

Thanks for the show, Bin I have a question about capital gain tax from the last house that I sold I moved to Texas from Seattle and purchased with cash on the new home Which price of the house was less than half that I sold in Seattle Is there a way to not pay big capital gain tax? Huge Thanks in advance for your response
Comment from : S Maximus

Is it just me? The crazy edits every few seconds is really annoying unwatchable and yet everyone on youtube is doing them
Comment from : Tee For2

If you live in the house for 21 months can you get 12500000 forgiven?
Comment from : Grant DeLaney

How can you avoid capital gains if you are forced to sell due to being laid off after a year and have to move for a new job?
Comment from : The BAM Life

Hi, I am in Pheonix, AZ Do capital gain tax apply to mobile homes? I bought the MH 4yrs ago and have been paying the taxes on it, the thing is That I had a problem getting the title transferred to me for the longest time I FINALLY got the title transferred 6 months ago and now I'm selling the MH at a nice profit The land is leased at $600, and I was a private buyer that bought from a private seller I already bought another home in FL 4 months ago and plan on moving there when this is sold Can the Capital G tax (if any) be deferred to the new home??? I am unemployed 56yrs old And these are primary residents for me It does show on the community lease that I have been here since 2017, but the tax office has the previous owner on their records paying the taxes up until 2021 Am I screwed😣brWORRIED😓
Comment from : Ted Zagami

Your videos have helped me reach over $180,000 in trading by age 23! Thanks Bin Chen Keep the videos coming 👍🏽
Comment from : white stone

Wow this is outdated Almost anyone selling now will make over $250K Congress needs to change this amount
Comment from : Rich D

Is this legal?
Comment from : kowboy 83

No it's not about light bulbs? Benjamin Franklin died 90 years before the light bulb was invented, so I'm not surprised it's not about light bulbs
Comment from : David Mills

Primary residence must have lived there for at least 2 of 5 years $500,000 capital tax exemption for married filing jointly
Comment from : Missy Skeeter

What if you sell primary home after living there for under 1 yr but buy a house worth more what is the capital gains tax?
Comment from : Karate Chick

I hope I live long enough to see all you profiteers and speculators get your heads cut off I hope it takes longer for the landlords
Comment from : Jack Glastra

Thanks for sharing this video!
Comment from : Service Star Realty

Question I purchase my house back in 1998 for $110K Now I sold sell piece for $285K I’m single n live over there over 20 years n my primary home Do I exempt capital gain for single 250K ?? Please explain
Comment from : Kim La

4:00 - 1031 exchange; 5:28 - refinance
Comment from : Svetlana Yashina

Unfortunately I bought what I thought was my dream house and first home Saved for years, work o, my credit and within less than 6 months everything you can think of that could go wrong did I had to make repairs upwards of 30k for the home to remain liveable Zillow lied on the disclosures and my septic tank was completely rotted I tried suing but zillow prolonged the process and I was already in over my head in debt I had no choice but to sell because I was in so much debt I couldn't afford my mortgage anymore Luckily I sold my house for 80k more than I bought it for but by the time I paid off all the debt, I only had 25k left And I was without a house Is there any exception to get out of paying Capital gains tax if I left before 2yrs due to unfortunate circumstances? I shouldn't be wiped out by this tax after all I went through
Comment from : Elena Nordé

This is a very clear video, I appreciate itbrHere is an odd situation I am an American living overseas I own 2 rental properties that I plan to sell when I move back to the US The sale of those properties will pay for my primary residence Can I use the 1031 exemption to buy 1 larger investment property but I only rent out the basement? (I would live in the main levels and rent the basement for a couple years to fulfill the requirements of the exemption) Thoughts?
Comment from : Davpmars

If you pay cash for the rental house can you deduct the interest for that cash that you used from your pocket?
Comment from : Rachel Lachamawi

Thank you for this information!
Comment from : A GGG

Price of my home went up from 904k to 21 mil in past 10 years How does one avoid capital gains tax
Comment from : Torrent79

Bin: I am that simple person I own house outright Will make $400K in gain when sell How do I NOT pay $150 capital gain tax I am building the house moving into Paying with cash so there's no 1031 or anything involved New house is half built paid with cash I need all the money to live on for next 50 years
Comment from : WildePotato

Can you please make a video on how to buy rental and primary home property
Comment from : Saurabh Jain

Hey how's it going? Great video! I have a house deeded over to me Bought for 70k but it's 14m now and is my primary How can I sell it and buy a primary and several other investment properties without paying capital gain? Married so I get the 500k
Comment from : cuerok

Thank you for this information Is there a 1031 equivalent term in Canada? We are trying to avoid paying capital gains tax our mother in law has lived in for 20 years, but the house in my wife's name It is not our primary residence It has increased tremendously in value over the years and we are looking at getting dinged about $125,000 in capital gains tax
Comment from : PMW442

What if i live on the property for 5 years after the 1031, do i still need to oay capital gains?, as i heard after 5 years you dont have to, if you lived in house for 2 of the 5,?
Comment from : MrBeast6000

If we sold moms house 3 months after she died Using step up basis Will there be capital gains
Comment from : Betty Hoogendam

Thank you so much I just so my condo so I can do taxes exemptions It’s very good that I find your video I can find CPA help me find the tax right?
Comment from : Tv4 Thai

Hi Bin,brGreat video i’ve been watching a lot of videos on that subject and I I haven’t found any videos on paying tax gains on the residential property if you have been living there less than two years but more than one year that would be a great video if you can make it happen thanks for the good work best of luck Andre Ethier
Comment from : Avesuccess

I lived in a house for 1 year and had a medical condition come up requiring me to move again the next year Is there a way to avoid if only lived in it for 1 year?
Comment from : Real Eyes Realize

wow great info can you give some advice for non us citizens or foreigners who like to like in USA tks
Comment from : Eagle Eats Monkey

wow sound good
Comment from : john man

can I uses 1031 for used capital gain on a loan of rental property??
Comment from : estela mora

Selling vacation home in njbr i live in pa Is there a way to lower percentage on cap Gains?
Comment from : Jeff Owens

Glad I came across this Thinking about selling my condo in AZ to travel for awhile Had it for little over a year I’ll hold for a few more months and let it appreciate a bit more!
Comment from : MRGN

What if I'm being relocated by my work and have only lived in my home for 20 months?
Comment from : John Ver

Thanks!!!
Comment from : Al Di

Average??? 200k for a House in the US??? Where??????????? Alabama?
Comment from : Real Housewife of Transylvania

Any word on how Biden's new proposed tax plan would affect any of this?
Comment from : Dan Roden

What if you 1031 multiple times do you have to pay current tax or the start of the 1031
Comment from : F v

Trying to flip our first home in texas it got condemned by the city because it was vacant years and squatters destroyed it we received the letter a month a go we didn't know because we live in another city we already fall in te 24 tax bracket with our incomehow can we go about this without paying too much tax ?we will profit minimum 40k for sure according to ARV given by the realtor Now We want to make it a business
Comment from : MAGDALENA ALVAREZ

Amazing advice! We just sold our home and we made sure we did not close until a week after we hit our two year mark Thank you!
Comment from : Sara’s Bites

I think Biden screwed this up for everyone!
Comment from : Ron Young

And this is whyi am keeping myself updated with current tax laws, its political
Comment from : Drake Dragon

Question- I am on the deed to my fathers house The house is a life estate My niece and her husband want to buy the house The house hasn’t been my primary residence but while I was taking care of my dad I did stay with him more than my apartment About 3 years When we sell, would I have to pay? I would be selling under fair market value
Comment from : Sara Koshen

I own multiple rentals and about to sell one of the which used to be my primary home a year and a half ago Do you know if I am going to have to pay cap gains? I lived in that house for 3 years
Comment from : Las Casas

If I am selling an investment property, is there a way to use those proceeds on the purchase of a single family primary residence without paying capital gains? It look like I would be ok to use a 1031 Exchange if I bought a multi-family (lived in 1 unit and rented the other) but I have not seen anything on single family homes
Comment from : Kyle Bota

🗣Subbed
Comment from : LOW Battery

I couldn’t hear everything you said, the audio was not working and I tried three times Thank you for the information that I could listened
Comment from : Irene Lopez

Basically incorrect in CanadabrYou do not pay any capital gains on the sale of your principle residence in canada
Comment from : trenholme lodge

This is awesome video Thank you for making it
Comment from : J L

What is the time limit to reinvest in investment property without paying the gains
Comment from : friscioni12

So what if I’m active duty military and have only lived in my home for 6 months before having to sell?
Comment from : Christian

When you do a 1031, do you have to pay depreciation recapture?
Comment from : Ted Conrad

Great content! Thanks Bin Chen
Comment from : TRAN LAM

Idiotic video
Comment from : Collegeofcool

Well done! You have a new follower
Comment from : Maurice Aguiler

What if i rented out my house for ten years and moved back for two years Can I still get the 250K exemption?
Comment from : quy chang

This is for Canada right
Comment from : Heartwalker

This is what bothers me People assume they know the laws and rules but I don't think it has to be residential property to write off half a million What is a home and what is your residence? Is a motorhome a home and residence and can it be parked on any bare land and can you have an old house on commercial property and you sold it for them to tear down and build a business? I will push it as far as I can when it comes to write offs because it isn't fraud if you think you're right
Comment from : Tim Steinkamp

2nd Home ?
Comment from : John rocco

0:52 - Primary residence capital gains exception (up to 250k/500k, must live in the residence 2 of last 5 years, can use repeatedly)br3:18 - Investment properties can defer all capital gains tax with a 1031 exchange to reinvest like for like (exchanging for a larger property that gains faster, or cash-flows more)br4:40 - investment properties Estate tax exemption upon death (tax free for kids/family, up to 115M/23M)br5:15 - Investment property cash-out refinance (must continue to deal with rental income to continue covering the loan)br6:09 - Minimize taxes on the cash-flow from your investments with tax deductions, write-offs, and exemptions
Comment from : Chris Hernandez

Interesting I got a lot with a shit trailer on it and wasn't sure if I wanted to build and sell or build and lease Great that I can do a roll over That was my plan anyway so that's awesome thank you
Comment from : okieking

This video was very informative and valuable Thank you!
Comment from : Sandria Doyle

what do you do when you bought your primary residence for $250k and now its worth over a million after 30 yrs that's the dilemma i'm in you have any idea's
Comment from : ewarda100

Thanks so much for your information Definition of primary residence is right on
Comment from : only one sky

Does this apply for Canada?
Comment from : Sams Daily

What if I lived in the house for less than 2 years but moved on military orders Is there any exemptions to the 2 year rule?
Comment from : Sergio

What if you move before 2 years?
Comment from : Knucklesando

Straight to the point👍
Comment from : I88-4-88I

So if I made 100k from stocks and I buy property do I escape paying taxes on the on the stock
Comment from : LeRoy Cofield

Can I sell some stocks to buy a piece of vacant commercial property without paying capital gains on the sold stocks?
Comment from : Jason Shy

@Bin Chen brI paid cash for my house and own it How can I sell it and keep every single penny?
Comment from : Mike Itzenhuiser

Bro!!! You rock!!!
Comment from : Forte Alfredo

The quality of your videos does not equate to your subscriber count Yet
Comment from : Andy Patel

If I buy a stock a year and 1 day ago but through the year I bought more shares (let’s say 6 months later) do I still get capital gains on my original investment?
Comment from : Joey Lazi

Bro can you email Have an important question grhino85@gmailcom
Comment from : BORN KING

1 So if I sell an investment house and owe $24,975 on it & I do a 1031 exchange on a new property and I owe $66,000 on the new property I will now owe $90,975 in capital gains tax if I'm not able to find a comparable property within the 45 day period is that correct? brbr2 Suppose I do find comparable property and do a 1031 exchange do I have to use my net profits to buy the property or I'm I able to make the purchase on a loan & keep my net profits?brbrI live in California taxes suck here
Comment from : Law19157

Hello, would I be able to use exclusion 121 twice in this scenario? I have a rental property that ive owned for 6 years and been renting out for 9 months so far and I have a new house that I bought in October 2019 if I sold both and made a profit of ie 200k on the first residence and lest say 30k on the second would I be able to not pay taxes on both?
Comment from : Martin Gonzalez

Very helpful thank you
Comment from : Robert Thomas jr

Regarding the 1031 Exchange - Yes you can continually reinvest all those profits into your new real estate investments and Hold-Off paying taxes But Once you cash in any amount to your personal funds, you have to pay taxes So yes, you can keep that up forever As long as you don't put any of those profits in your bank
Comment from : J Nugen