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Updated almost 10 years ago on .
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Tax liability from rental income
Hi,
What will be the approximate tax liability if I have the following situation?
1- Rental income from house #1 = $12,000
Mortgage paid = $9000
2- Rental income from house #2 = $4000
Mortgage paid = $3000
Assume I make 50k/yr on w2 from my full time.
Thanks