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socrateaser, Lawyer
Category: Tax
Satisfied Customers: 38802
Experience:  Retired (mostly)
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If I have a house rented out for $1000 per month using a management

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If I have a house rented out for $1000 per month using a management company that charges 10% of the rent, and my my note is $700 per month and I average $50 per month in maintenance expenses and average $400 per month in mortgage interest, how much is my taxable income for the yeat from this property?
$1,000 - $100 - $400 - $50 = $450 taxable, but you can also deduct depreciation expense.

Hope this helps.
Customer: replied 6 years ago.
I am curious as to why this is still up here. Did you not get paid when I accepted your answer? Let me know.
According to my information, you did not click Accept for this answer. You are certainly welcome to do so, now, if you wish.
socrateaser and 3 other Tax Specialists are ready to help you
Customer: replied 6 years ago.
I will try again. Do not know what happened
That worked. Thank you for your gift.

Peace and Happy Holidays.