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Should a capital gain from sale of a Florida rental property (reported on a K1) be excluded from D.C. income for state tax return? If so, how is that adjustment made?

 
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DDollar
Expert Alumni

Should a capital gain from sale of a Florida rental property (reported on a K1) be excluded from D.C. income for state tax return? If so, how is that adjustment made?

If you are a DC resident No.  If you are a resident of D.C. then you have to report all of your income on your "state" tax return, regardless of where it was earned.

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DDollar
Expert Alumni

Should a capital gain from sale of a Florida rental property (reported on a K1) be excluded from D.C. income for state tax return? If so, how is that adjustment made?

If you are a DC resident No.  If you are a resident of D.C. then you have to report all of your income on your "state" tax return, regardless of where it was earned.

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