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NET rental income will be included in your taxable income and taxed according to you tax bracket. Net rental income/loos is your rent collected minus deductions you can take like property taxes, insurance, mortgage interest, upkeep, maintenance, repairs, legal fees, depreciation and other.
Rental income is reported on Schedule E, here's the link to the form:
Link to an article about some common landlord's deductions:
It is hard to say, how much tax you will end up paying, it all depends on rent you receive and how much it will cost you to run in. Some years you will claim profit, in other you will claim loss. It also depends on your tax bracket.
I can give you an estimate, I will need your total income, your filing status, dependents, and your estimated rent income.
I see you read my respond. Do you have any questions? Is there anything else I can help you with today? To estimate your total tax liability you can also use one of the online calculator like this one:
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