Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Question regarding income from rent
Hi,
I'm new to the forums and looking into purchasing rental properties. I do plan on keeping my current job while I get started.
I'm currently reading the Bigger Pockets tax strategy book and it is very eye-opening and informative but I do have a question about how income from rent is taxed. Is it taxed as income or something else (EX long term capital gains)? Also, if I have enough deductions to offset the income from rent, can the overage be used to lower my taxable income from my corporate career?
Thanks for the advice