Rental to help offset 120K in income tax
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!