How Much am I Being Taxed on Rental Income in Ohio?

[Max James]

Hi! First off, please forgive me for my level of tax ignorance. My friend asked me this question who is looking to get into REI and I honestly could not answer it. That's what BP is for :-).

If I am grossing $2,000 in rental income on a property and netting $500/month, what taxes am I paying?  I know this is probably basic tax knowledge, but still trying to learn more.

Thanks!