Form D-30 for D.C. is actually a Business Franchise Tax return and is not part of the individual filing requirements provided in TurboTax.
See below for the list of forms supported by TurboTax for individual tax preparation and business tax preparation.
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Does DC allow all of the federal schedule E deductions on its form d-30? For example, where would I put HOA fee deductions on the dc form d-30? Could someone confirm I have the right line items filled out?
-gross rental income (line 6)
-total gross income (line 11)
-repairs (line 13, I assume this is different from maintenance costs like HOA)
-taxes (property taxes?) (line 17)
-interest expense (mortgage interest?) (line 18a)
-depreciation (line 21)
-other allowable deductions (line 23) (would other Schedule E deductions go on Schedule G, like auto/travel, cleaning and maintenance (like HOA), property insurance, legal and other professional fees, supplies, and utilities?)
-total allowable deductions (line 24)
-net income (line 25)
-exemption (line 33)
-total dc taxable income (line 36)
-tax 8.25% (line 37)
-net tax (line 40)
-total amount due (line 45)
Are there any other relevant line items/credits? This is a very complicated form for a pretty simple (and common) situation, so any help is appreciated!
Management fees would most likely be reported on DC D-31, Line 21, which links to your Schedule G on the form that lists out the other allowable deductions.
It is recommended that if you fill out this form yourself that you complete the schedules first. Then, those totals should flow to the main form.
Line by line instructions for Schedule E can be found on 2020 Instructions for Schedule E (2020).
Line by line instructions for the D-30 can be found in the 2020 D-3 Booklet starting on page 9.
Thanks. I don't find the D-30 instructions particularly helpful, which is why I am posting here. As others have mentioned, the D-30 form and instructions are complicated and include a lot of things that are irrelevant for small landlords who are passively renting a single property.
I've used TurboTax to complete Schedule E, but as others have noted, TurboTax does not support the DC D-30 form. I really just want to confirm two things:
(1) Can I use the same Schedule E deductions on the DC D-30 form? In other words, are there certain deductions that Schedule E allows but DC disallows, or any additional deductions that DC allows that might not be on Schedule E?
(2) For deductions that are not explicitly listed on the D-30 form, i.e., condo HOA fees (maintenance costs), where should I put them? It seems like Schedule G is the place, which links to line 23 of the D-30. My confusion is that the Schedule G instructions only refer to royalty, interest, etc. and not the types of standard maintenance costs I am trying to deduct:
Schedule G – Other allowable deductions
If you are the recipient of royalty, interest or other intangible payments from a related entity that has not deducted the payment amounts on their return and you are filing a return and paying tax on these payments in the District, enter, on Schedule G, the amount of income you are reporting on this return to the extent it was included: on Lines 15(b) and 18(b) of the related entity’s District of Columbia D-30 tax return; on Lines 18(b) and 23(b) of the related entity’s District of Columbia D-20 tax return; or on a related entity’s return filed in another state where a similar adjustment was made.
There are no expenses from Schedule E that are not allowable on D30, however you want to make sure you put them in the right places.
Rental Income goes on Line 6, Repairs, Line 12, Taxes, Line 16 from Schedule C of D30, and Depreciation Line 20.
Don't overlook the minimum Franchise tax is $250.
Schedule G only has 6 lines so you will need to do some consolidation of expense categories to make them all fit on the Schedule.
Thanks. Where do I put the carryover passive losses on the D30 that net out my rental income to $0? For example, assume I had $1,000 in rental income, and my schedule E shows $1,000 of deductible rental losses from the prior year, so that my rental income is $0 on Schedule E?
Would it go on the D30 Schedule G or somewhere else?
Would I need to attach form 8582 (passive activity loss limitations) to my D30?