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22 February 2025 | 0 replies
We have a reasonably high income from our W-2’s and rents with annual income in the $250k+/year depending on bonuses & OT worked and is usually closer to $300k.
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13 February 2025 | 13 replies
We invest in Greene County, Ohio and currently have 24 low income units.
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22 February 2025 | 11 replies
Do it yourself with TurboTax (or similar software)If your rental is pretty simple (one property, basic income & expenses), you can learn the basics and still save money.
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21 February 2025 | 9 replies
Income tax and local taxes.
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22 February 2025 | 12 replies
To answer your question, you can use AirDNA or another short-term-rental income analyzing website or software.
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17 February 2025 | 21 replies
Assuming when you say "$3900/mo in rental income" you mean cash flow.That means it will take you about 13 years of rental income to equal the $500k in equity you have now.
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15 February 2025 | 3 replies
Investment Info:Building a Fix and Flip/Wholesale Active Income Arm of Our Business.Routinely have 5-10 active flips/wholesale deals under management/in process.
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19 February 2025 | 11 replies
You Might Not Live for FreeMany first-time house hackers expect that their rental income will fully cover their mortgage, but that’s not always the case.
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12 February 2025 | 12 replies
You will report worldwide income on your federal and Kansas tax returns.You will also include the MO activity on your KS return.Your MO return will only include the acitivity within that state, which in this case, is the rental property.In the future, if you have income in MO(either through the sale of the property or through rental income), you will pay tax to MO but KS will give you a credit for any taxes you pay to MO.best of luck
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18 February 2025 | 1 reply
You have to report all other types of income to WV besides Wages and Salaries.Therefore, yes, you would report the WV Rental income to WV.