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Updated almost 5 years ago on . Most recent reply
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Tax % on rental income.
Hi, does anyone know the tax porcentage on long term rental income for Miami FL?
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Same as your ordinary income. Some rental properties can be treated as a business and qualify for the 20% QBI deduction which helps plus your taxable amount is income - expenses - interest - depreciation. For many people after depreciation the amount of taxable income is low or even negative.