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- D30 Unincorporated Business Franchise form- Sale of rental Property release of Passive Losses
D30 Unincorporated Business Franchise form- Sale of rental Property release of Passive Losses
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Demetra
Level 1
Sunday
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Client sold DC property in 2024. 2024 Rental income and Expenses flowing through. Capital Gain flowing through. Prior year passive losses are released on 1040 but not showing up on the D-30.
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sjrcpa
Level 15
Sunday
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D-30 doesn't do "passive".
There may be an NOL carryover for the D-30, or not since taxable income on a D-30 is different than the taxable income of that property on a 1040.
The more I know the more I don’t know.
