How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29580
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

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?
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year 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