topic Why am i getting taxed 70 percent on rental income in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-am-i-getting-taxed-70-percent-on-rental-income/01/945309#M6561 <P>Before i enter my rental income i have a $9000+ refund. After i enter my rental income ($10,000 net) i have a refund of only $2000. Why am i getting taxed $7000 on $10,000 of income?</P> Thu, 31 Oct 2019 11:21:17 GMT coybert_5 2019-10-31T11:21:17Z Why am i getting taxed 70 percent on rental income https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-am-i-getting-taxed-70-percent-on-rental-income/01/945309#M6561 <P>Before i enter my rental income i have a $9000+ refund. After i enter my rental income ($10,000 net) i have a refund of only $2000. Why am i getting taxed $7000 on $10,000 of income?</P> Thu, 31 Oct 2019 11:21:17 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-am-i-getting-taxed-70-percent-on-rental-income/01/945309#M6561 coybert_5 2019-10-31T11:21:17Z Without the details of your specific situation I can not... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/without-the-details-of-your-specific-situation-i-can-not/01/945310#M6562 <P>Without the details of your specific situation I can not explain in detail.&nbsp;</P><P>However, it is possible that the additional 10k of income pushed you into a higher tax bracket thus charging you more tax on your income/making lower income credits unavailable. Example going from 94k to 96k of income will cause an additional 6% tax.&nbsp;</P><P>Here is a quick reference link for the CRA tax brackets:</P><P> <A rel="nofollow" href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html" target="_blank">https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html</A> <BR /> </P> Thu, 31 Oct 2019 11:21:18 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/without-the-details-of-your-specific-situation-i-can-not/01/945310#M6562 TurboTax-Meg 2019-10-31T11:21:18Z
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topic Why am i getting taxed 70 percent on rental income in Investors and rental owners
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<P>Before i enter my rental income i have a $9000+ refund. After i enter my rental income ($10,000 net) i have a refund of only $2000. Why am i getting taxed $7000 on $10,000 of income?</P>
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<title>Why am i getting taxed 70 percent on rental income</title>
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/why-am-i-getting-taxed-70-percent-on-rental-income/01/945309#M6561
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<P>Before i enter my rental income i have a $9000+ refund. After i enter my rental income ($10,000 net) i have a refund of only $2000. Why am i getting taxed $7000 on $10,000 of income?</P>
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<pubDate>Thu, 31 Oct 2019 11:21:17 GMT</pubDate>
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Without the details of your specific situation I can not...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/without-the-details-of-your-specific-situation-i-can-not/01/945310#M6562
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<P>Without the details of your specific situation I can not explain in detail.&nbsp;</P><P>However, it is possible that the additional 10k of income pushed you into a higher tax bracket thus charging you more tax on your income/making lower income credits unavailable. Example going from 94k to 96k of income will cause an additional 6% tax.&nbsp;</P><P>Here is a quick reference link for the CRA tax brackets:</P><P> <A rel="nofollow" href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html" target="_blank">https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html</A> <BR /> </P>
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<pubDate>Thu, 31 Oct 2019 11:21:18 GMT</pubDate>
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<dc:creator>TurboTax-Meg</dc:creator>
<dc:date>2019-10-31T11:21:18Z</dc:date>
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