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Updated about 2 years ago on . Most recent reply

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1,266
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226
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Mary Jay
  • Glendale, AZ
226
Votes |
1,266
Posts

How to calculate state taxes on a rental in California

Mary Jay
  • Glendale, AZ
Posted

Hi Guys,

If we received  36 k as a rent  on a house located in California . Mortgage was 24k. The repairs were minor, so it’s negligible. How much would our state taxes be? (My husband keeps waiting for the bill from the state of California , but I keep telling him to just pay it . We need to pay it for the last two years)

Thank you

Most Popular Reply

User Stats

88
Posts
23
Votes
Leona Usaty
  • Real Estate Agent
23
Votes |
88
Posts
Leona Usaty
  • Real Estate Agent
Replied
Quote from @Bruce Woodruff:

@Mary Jay Is there a reason you're not taking this to a CPA or Tax accountant?

You're asking questions that show you have too little knowledge to do this yourself. No offense, but you could wind up paying way more money to get out of trouble than you would on a professional....


 I totally agree, you need accounting, 

Leona

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