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!
This should answer your question...
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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