Liable for 4404 on rental income of 5619

NotVeryHappy

I'm a PAYE worker but rented out my apartment for 6 months last year earning 5619 after expenses. I expected to pay the higher rate of income tax plus whatever else on this but when I put my income into ros.ie it's telling me I am liable for about 80% of it. Can someone help me understand where this number comes from at a high level. I've never had to declare income before so don't know where to start

The_Chap

NotVeryHappy wrote: »

I'm a PAYE worker but rented out my apartment for 6 months last year earning 5619 after expenses. I expected to pay the higher rate of income tax plus whatever else on this but when I put my income into ros.ie it's telling me I am liable for about 80% of it. Can someone help me understand where this number comes from at a high level. I've never had to declare income before so don't know where to start


https://imgur.com/a/hK35osu

Why do you not have a paye employee tax credit of 1650?

tax_tutor1

You are entitled to either employee tax credit (not if your own company) or earned income tax credit- this should reduce income tax figure but not PRSI or USC. Tick relevant box on form.

NotVeryHappy

Thanks so much! Completely missed that box amongst everything