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This is an individual tax return (form 1040) question.
Taxpayer background: Married couple who files their form 1040 as married filing jointly. They are Maryland residents, they have W-2 income, capital gain, and rental income in 2023. They have a rental property in DC(they received rental income in 2023) and the property is under the couple's name.
My question is what needs to be done/filed regarding their DC rental property? I am not sure if I only need to file the form D-30 SUB Unincorporated Business Franchise Tax Return for this situation. or do they need to file any DC state return?
Thank you for your help!
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This should answer your question...
Still an AllStar
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This couple's rental income from the DC property is above $12000. So, they will need to file form D-30 (Unincorporated Franchise tax return). In addition, this taxpayer needs to file a Personal Property Tax return (FP-31). These two should be all the filing requirements regarding their DC rental property, right?
Thank you so much for your help!
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Yes, for taxes.
Then there may be licensing, inspection, clean hands certificate, etc. But not your problem.
The more I know the more I don’t know.
