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Updated over 3 years ago on . Most recent reply

User Stats

27
Posts
2
Votes
Andrew D Hansen
  • Rental Property Investor
  • Mount Pleasant, WI
2
Votes |
27
Posts

Can I charge $200 per moth on a house rental and still take .....

Andrew D Hansen
  • Rental Property Investor
  • Mount Pleasant, WI
Posted

The basis of house is 52,000. I rented it out for 13 yrs. I received $2,000 per year depreciation. My income for this year is $35,000 PLUS the profit of the house (I paid 55k selling 125k) 70000. I will pay relator $5000 and closing costs $1500. I live in Wi. and I file as single. 

how much do I owe for depreciation recapture for fed and state?

how much do I owe for capital gains for fed and state? Ty

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