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DC Rental for DC Resident

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Level 5

New one for me.  DC resident renting out 3/4 of home.  This is reported on both 1040 and D-4O DC tax return.  I've done D-30 unincorp business returns for MD residents but not for DC residents.  If taxpayer has to pay D-30 unincorp business tax to DC and also pay on their resident D-40 isn't this a duplication of tax?  Yes, revenue is above $12,000 so not exempt.

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Level 10

ProSeries does not handle D-30/D-40 very well.  For the D-30 it's just a glorified typewriter (and I think it might still need to be paper filed).

On the D-40 though, you'll enter the amount of double taxed income in the subtraction section on line 11:

"Income reported and taxed this year on a DC franchise or fiduciary return."

Rick

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Highlighted
Level 10

ProSeries does not handle D-30/D-40 very well.  For the D-30 it's just a glorified typewriter (and I think it might still need to be paper filed).

On the D-40 though, you'll enter the amount of double taxed income in the subtraction section on line 11:

"Income reported and taxed this year on a DC franchise or fiduciary return."

Rick

View solution in original post