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Why does my tax owed go up when I add in rental income expenses such as real estate tax?
I entered about 20K in rental income. When I add in the expenses such as real estate tax and insurance, my tax owed goes up. When I remove the expenses the tax owed goes down. Doesn't make sense to me. The expenses are supposed to offset the income, hence less tax.
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‎June 3, 2019
10:24 AM