Updated about 4 years ago on . Most recent reply
Can I charge $200 per moth on a house rental and still take .....
The basis of house is 52,000. I rented it out for 13 yrs. I received $2,000 per year depreciation. My income for this year is $35,000 PLUS the profit of the house (I paid 55k selling 125k) 70000. I will pay relator $5000 and closing costs $1500. I live in Wi. and I file as single.
how much do I owe for depreciation recapture for fed and state?
how much do I owe for capital gains for fed and state? Ty