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What is taxable income in DC?
Do you have to pay taxes in Washington DC?
How much tax do you pay in Washington DC?
Does Washington DC have a property tax?
DC does not allow a deduction for state and local income taxes. You can deduct your entire state and local real estate taxes. Refer to Calculation D if a part-year resident, or Calculation F if a full-year resident.
- Income Tax Deductions For Washington, D.C.
- Washington, D.C., Income Tax Credits
- Do I Have to Pay Income Tax in Washington D.C.?
- Property Taxes and Property Tax Rates
Standard Deduction
The amount you can claim in a standard deduction depends on your filing status. The current standard deduction amounts are: 1. Single/Married filing separately:$12,950 2. Head of household:$19,400 3. Married filing jointly/Qualifying widow(er) with dependent children:$25,900 Additionally you may be able to claim an additional deduction if you’re blind or were born before January 2, 1958. The additional amounts are: 1. Single/Head of household:$1,750 2. Married filing jointly:$1,400
Itemized Deductions
If you itemize deductions on your federal tax return, you must itemize on your Washington, D.C., return, too. For full-year district residents, itemized deductions are based largely on the deductions claimed on your federal return, though you don’t deduct state and local taxes on your D.C. return but you do write off state and local real estate taxes you paid. For those who make over $200,000 ($100,000 if married filing separately), only a portion of your federal itemized deductions will be d...
Other Deductions
The district also allows for several subtractions from your income, including taxable Social Security and railroad retirement benefits to the extent reported on your federal return, any unemployment insurance benefits, and federal government survivor benefits.
Credit for Child and Dependent Care Expenses
If you claimed the federal credit for child and dependent care expenses, you’ll likely be eligible for a similar D.C. credit worth 32% of the federal amount. However, if you are married filing separately, you will need to prove that you meet certain qualifying criteria in order to claim the credit. This credit is nonrefundable, meaning you won’t get money back if the credit is larger than the amount of tax you owe.
Homeowner and Renter Property Tax Credit
If you’re a homeowner or renter whose federal adjusted gross income (AGI) for the tax year was $57,600 or lower ($78,600 or lower if you’re age 70 or older) you may be eligible for this credit. You can calculate the credit for your particular situation using Schedule H; its maximum value is $1,250. To be considered eligible, you must have lived in the home for the entire year, you must not be claimed as a dependent on anyone else’s return, and you cannot have rented from a landlord whose prop...
You must file a tax return in DC if any of the following conditions are met: 1. You were a resident of the District of Columbia at any time during the tax year. 2. You maintained a home in the district for at least 183 days out of the year, even if your permanent home was somewhere else. 3. You’re a member of the armed forces, and D.C. was your hom...
Property Tax Rates
The property tax rate for residential property is 85 cents for every $100 of assessed value.
Capital Gains Taxes
The amount of capital gains claimed on your federal return is taxed as ordinary income on your D.C. return.
Inheritance and Estate Tax and Inheritance and Estate Tax Exemption
The District of Columbia imposes an estate tax on estates valued at a little over $4.25 million and higher. The tax rate ranges from 11.2% to 16.0%. D.C. does not have an inheritance tax.
Jan 1, 2024 · Overview of District of Columbia Taxes. Washington, D.C. residents pay a progressive district income tax if they've lived there for at least 183 days out of the year. Rates are quite high compared to national averages, ranging from 4% to 10.75%.
Mar 8, 2016 · . Washington, D.C., residents are taxed at 5 rates, ranging from 4% to 8.95%. More on District of Columbia taxes can be found in the tabbed pages below. Personal income tax. Washington, D.C.,...
The District of Columbia (DC) has a graduated individual income tax, with rates ranging from 4.00 percent to 10.75 percent. DC has a flat 8.25 percent corporate income tax rate. DC also has a 6.00 percent sales tax rate. DC’s tax system ranks 48th overall on our 2023 State Business Tax Climate Index.
Do I have to file a DC income tax return? You must file a DC tax return if: You were a resident of the District of Columbia and you were required to file a federal tax return. Your permanent residence was in the District of Columbia for either part of or the full taxable year.
