Don't Let Taxes Keep You in the Wrong House: Options for Long-Time Owners

Free online session for long-time California homeowners: capital gains options, Prop 19, and ways to defer. Bring your numbers. Live Q&A.

For California homeowners. The tax rules in this session are specific to the U.S. and California, so it won't apply to property in another country.

You bought your home years ago, and life has changed since then. Maybe the house is too big now, too much to keep up, or too far from where you want to be. But every time you think about selling, the capital gains number stops you. So you stay in a house that doesn't fit anymore, just because of taxes.

This session walks through the options most long-time owners never hear about, in plain language, so the tax bill stops making the decision for you.

What we'll cover:

• How the $250,000 / $500,000 home sale exclusion works when you've owned for decades, and where it stops covering you
• What changes on taxes when a primary residence becomes a rental, and why the timing of that move matters
• Where a 1031 exchange can fit once the home is a rental
• A lesser-known way owners with significant equity may be able to defer capital gains, even on a primary residence
• How Prop 19 can let you move and keep a lower property tax base
• Selling now versus holding and letting the next generation inherit
• What to bring to your CPA

Questions this session answers:

• How much capital gains tax will I owe if I sell the house I bought decades ago?
• Does the $250,000 / $500,000 exclusion still apply?
• Can I turn my home into a rental and still avoid capital gains?
• Can I sell and keep my low property tax under Prop 19?
• What happens to the tax bill if I wait and let my kids inherit instead?

What you walk away with: the free Capital Gains Estimate worksheet, filled in with your own numbers during the session, so you leave with a real estimate of what you'd keep and which options are worth taking to your CPA.

This is education, not tax advice. You'll leave knowing exactly what to ask your tax professional.

Format: 45 minutes of teaching followed by 15 minutes of live Q&A. Bring your questions. At the end, you can book a free 30-minute call to walk through your specific situation.

Hosted by Scott Stollar | SellItScott | Certified Trust and Probate Specialist | Keller Williams Carlsbad DRE 02136497