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Updated almost 7 years ago,
2nd home in TX and rented out.
I live in CA and own a 2nd home in Texas. I rent out the TX home from October through December 2017.
I know that Texas has no state income tax. Does this include net rent for my rented home as an individual?
For example, if I show a positive net cash flow of $900 for the rented property, is the IRS going to collect any in the form of taxes in Form 1040?
Thank you,
Jessica