Folks,
First year filling out a Form 11 in order to settle my tax for receiving rental income for a property I purchased in the boom, had to move out of due to job location switch and the property is worth half what I paid for it, so can't sell.
Received €9350 rental income for the house for the year.
ROS tells me that I owe €6938.
Can that possibly be correct, that's 74% of the sum, mad?
Thanks for any insights in advance,
Al.
First year filling out a Form 11 in order to settle my tax for receiving rental income for a property I purchased in the boom, had to move out of due to job location switch and the property is worth half what I paid for it, so can't sell.
Received €9350 rental income for the house for the year.
ROS tells me that I owe €6938.
Can that possibly be correct, that's 74% of the sum, mad?
Thanks for any insights in advance,
Al.