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Updated about 6 years ago,

User Stats

150
Posts
89
Votes
Ariel K.
  • Texas
89
Votes |
150
Posts

Tax on real estate income

Ariel K.
  • Texas
Posted

I just have some general questions about taxes on real estate income:

1. If I turn a profit on real estate, what tax rate would I pay? Long term capital gains? 15%? 23.8%?

2. Is there a way to always avoid taxes even after exhausting losses? I realize there are many ‘it depends’ answers, but just looking for general answers

3. If I start living off my rental income, can I still take off itemized deductions such as my personal mortgage, property taxes, etc against rental income or do I have to become a professional?

Thanks!

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