If I own rental property in another state, can I include the cost of filing a non-resident state tax return in my rental property expenses?
03564
1 Best answer
ColeenD3
Expert Alumni
Mar 13, 2021 2:20:11 PM
Yes. For the Federal portion, you would normally be able to include the up-charge of Premier over Deluxe. However, since the only reason you are buying the extra state is for the rental, you can take the entire charge.
3 Replies
ColeenD3
Expert Alumni
Mar 13, 2021 2:20:11 PM
Yes. For the Federal portion, you would normally be able to include the up-charge of Premier over Deluxe. However, since the only reason you are buying the extra state is for the rental, you can take the entire charge.
TaxingRun5000
Level 1
Mar 14, 2021 6:27:08 AM
Washington, DC requires rental property income to be reported on a D-30 Unincorporated Business Franchise Return. The minimum tax due on this return is $250. Can I include the $250 tax as an expense for the DC property?
ColeenD3
Expert Alumni
Mar 14, 2021 8:14:46 AM
Yes. Although the text below applies to small business, it also applies to rental property.
Taxes - You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses.