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Jessica Ko
  • San Fernando, CA
0
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6
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2nd home in TX and rented out.

Jessica Ko
  • San Fernando, CA
Posted

I live in CA and own a 2nd home in Texas. I rent out the TX home from October through December 2017.

I know that Texas has no state income tax. Does this include net rent for my rented home as an individual?

For example, if I show a positive net cash flow of $900 for the rented property, is the IRS going to collect any in the form of taxes in Form 1040?

Thank you,

Jessica

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