Newbie Tax Question

[Steve S.]

I did a fair amount of reading and binging / googling and couldn't find a specific answer to this question.

If after reducing my gross rents by all allowable deductibles, I have $10,000 in remaining profit for the year (to use a biggish round number), do I pay taxes on that $10,000 as if it was additional income and therefore pay it in my AGI tax bracket?  (i.e. if Im in the 31% tax bracket, would Schedule E of my Tax Return ultimately require that I pay 31% of the $10,000 profit in taxes?

Does this chage at all if the house is owned by my LLC?