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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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My name is ***** *****. I have rental property in DC and

Customer Question

Hi, my name is ***** *****. I have rental property in DC and live in VA. I also have losses on my rental property in 2013 and 2014 that were not allowed on my federal returns because my income was too high. Can I use these losses as Net Operating Losses on my DC D-30 business income form?
JA: Thanks. Can you give me any more details about your issue?
Customer: My question is about Washington DC D-30 Unincorporated Business Franchise Tax Return. I have rental property in DC and have losses from 2013 and 2014. I didn't file a D-30 last year because I had less than the required $12K income from the property. This year I have income. Can I use the past losses to offset it?
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Submitted: 9 months ago.
Category: Tax
Expert:  Lev replied 9 months ago.

Form D30 is required if you are unincorporatedand have gross income in DC of over $12,000 which includes rental income.

DC franchise tax are based on gross income - so no deductions for rental expenses or previous year losses are allowed.

Sorry if you expected differently.

See here

http://otr.cfo.dc.gov/sites/default/files/dc/sites/otr/publication/attachments/48567_D-30%20FINAL%20BOOKLET_2216.pdf