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Investors & landlords
I also want to point out that on the Federal return, the gain due to the depreciation is taxed at your regular tax rate, up to 25%. I am unsure how Hawaii taxes it.
If you want a fairly accurate estimate, use the CD/downloaded version of TurboTax (or create a 'mock' account in the online version) to create a 'mock' return with all of the estimated information. Or go to a tax professional.
‎September 29, 2020
3:19 PM