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Updated almost 10 years ago,

User Stats

77
Posts
5
Votes
Rao V.
  • Seattle, WA
5
Votes |
77
Posts

Tax liability from rental income

Rao V.
  • Seattle, WA
Posted

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

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