Selling rental properties

[Gerald Maczuga]

I plan to sell 2 rental properties in 2024.  I heard that I can avoid paying capital gains on them if my husband and I make less than $94,000 combined.  We are retiring in a few years and will likely make less than that next year.  Is this a true method to pay $0 in capital gains?

Example: 

The value subjected to capital gains of the rentals will be approximately $400,000 due to appreciation.
 

Our taxable earned income from our employment will be approximately $85,000.  Will we be required to pay capital gains?  If so, how much?