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Updated over 7 years ago on . Most recent reply presented by

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Desmond Price
  • Los Angeles, CA
6
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24
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Rental to help offset 120K in income tax

Desmond Price
  • Los Angeles, CA
Posted

Hey guys,

Im trying to get an idea of how much a rental property could help with offsetting income taxes. Im looking for a SFH here in SoCal to rent out long term. The purchase price is 250,000 and the rental income is 1,800. My tax bracket is 44% (33% federal and 10% state). Is there a ballpark figure or method of determining this?

Thanks!

Most Popular Reply

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9,365
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,552
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9,365
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

Leave CA! That would be a good start to lowering your taxes

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