topic 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? in Investors & landlords

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?

TaxingRun5000 — Sat, 13 Mar 2021 21:48:02 GMT

Re: If I own rental property in another state, can I include the cost of filing a non-resident st...

ColeenD3 — Sat, 13 Mar 2021 22:20:11 GMT

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.

Re: If I own rental property in another state, can I include the cost of filing a non-resident st...

TaxingRun5000 — Sun, 14 Mar 2021 13:27:08 GMT

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?

Re: If I own rental property in another state, can I include the cost of filing a non-resident st...

ColeenD3 — Sun, 14 Mar 2021 15:14:46 GMT

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.

Tax deduction