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Old 08-02-2007, 08:59 PM
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Default Rental Income Tax Rate in your country

Hey guys.

What is the rental income tax rate in your country?
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Old 10-01-2008, 01:56 PM
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If you receive rental income from the rental of a dwelling unit, such as a house or apartment, there are certain rental expenses you may deduct on your tax return. These tax deductible rental expenses reduce the amount of rental income that you pay tax on.
Generally, rental income and rental expenses from rental property are reported on Form 1040, Schedule E.
On Form 1040, Schedule E, taxpayers report rental income and rental expenses including mortgage interest, property tax, depreciation, and repairs. If your rental expenses exceed rental income you may report a loss of up to $25,000 on your tax return, limited for adjusted gross incomes above $100,000.
If you also use the dwelling unit as a home, or rent it at less than fair rental value, certain restrictions apply to the tax deduction of your rental expenses on your tax return. IRS forms, tax forms, plus IRS e-file! for more...details
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Old 10-20-2008, 12:54 PM
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If you receive rental income from the rental of a dwelling unit, such as a house or apartment, there are certain rental expenses you may deduct on your tax return. These tax deductible rental expenses reduce the amount of rental income that you pay tax on.
Generally, rental income and rental expenses from rental property are reported on Form 1040, Schedule E.
On Form 1040, Schedule E, taxpayers report rental income and rental expenses including mortgage interest, property tax, depreciation, and repairs. If your rental expenses exceed rental income you may report a loss of up to $25,000 on your tax return, limited for adjusted gross incomes above $100,000.
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