Question
DC individual return
One interesting question, anyone be familiar with DC individual return D-40, line 11 "income reported and taxed this year on a DC franchise or fiduciary return"? Based on the instructions, the income reported on 1040 or 1040-SR included income reported and taxed on a DC franchise or DC fiduciary return, enter that amount here. The schedule K-1 income with section 179 already reported in DC franchise tax, so should I put entire income as of line 1 of schedule K-1, or the income after the entire section 179 deduction, or the net income from D-20 (line 32)?
Millions thanks.
