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Updated over 13 years ago,
TAXES ON PASSIVE INCOME??
Hello everyone, this is my first topic post and my question is i have bought a doublewide in a park for $800/mth mortgage "includes rent space" and am renting it out for that. Owners insurance is still covering it. It's within 20 miles of my personal home....
What kind of taxes should i prepare myself for, and are there legal loopholes i should be aware of and/or take advantage of?