District of Columbia

If the creator of a trust was at the time the trust was created domiciled within the District, or if the trust consists of property of a person domiciled within the District, the trust is a resident trust.

Uniform Community Property Disposition at Death Act of 2024

(11) In the case of taxable years beginning after December 31, 2021, there is imposed on the taxable income of every resident a tax determined in accordance with the following table: Not over $10,000 4% of the taxable income ... Over $1,000,000 $91,525, plus 10.75% of the excess over $1,000,000

In the case of a return filed by married individuals filing a joint return, separate on a combined return, or a surviving spouse, $30,000; and [for] [t]axable years beginning after December 31, 2025: In the case of a return filed by married individuals filing a joint return, separate on a combined return, or a surviving spouse, $30,000 increased annually pursuant to the cost-of-living adjustment

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

For tax years beginning after December 31, 2024: Shall not include interest on the obligations of the District of Columbia or bonds issued by DC Water, the Washington Metropolitan Area Transit Authority, and the District of Columbia Housing Finance Agency.

For tax years beginning after December 31, 2024: Shall not include interest on the obligations of the District of Columbia or bonds issued by DC Water, the Washington Metropolitan Area Transit Authority, and the District of Columbia Housing Finance Agency.

(20) Qualified Opportunity Fund Capital Gains. ; (A) Deferral of a capital gains tax payment for investing in a qualified opportunity fund ("QOF") shall be realized only if the taxpayer invests in a QOF that meets the criteria set forth in subparagraph (D) of this paragraph.

(1C) For taxable years beginning after December 31, 2024, individuals, estates and trusts shall include any income or gain excluded from their federal gross income pursuant to § 1202(a) of the Internal Revenue Code of 1986 for that taxable year.

Items of income excluded from gross income by provisions of the Internal Revenue Code shall also be excluded from gross income for District tax purposes.

(11) In the case of taxable years beginning after December 31, 2021, there is imposed on the taxable income of every resident a tax determined in accordance with the following table: Not over $10,000 4% of the taxable income ... Over $1,000,000 $91,525, plus 10.75% of the excess over $1,000,000

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.

The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

(11) In the case of taxable years beginning after December 31, 2021, there is imposed on the taxable income of every resident a tax determined in accordance with the following table: Not over $10,000 4% of the taxable income ... Over $1,000,000 $91,525, plus 10.75% of the excess over $1,000,000

For estates of decedents who die on or after January 1, 2025, and on or before December 31, 2025, the exclusion (zero bracket) amount is increased to $4,873,200.00.

For estates of decedents who die on or after January 1, 2025, and on or before December 31, 2025, the exclusion (zero bracket) amount is increased to $4,873,200.00.

For estates of decedents who die on or after Jan. 1, 2026, and on or before Dec. 31, 2026, the exclusion (zero bracket) amount is increased to $4,988,400.

(11) In the case of taxable years beginning after December 31, 2021, there is imposed on the taxable income of every resident a tax determined in accordance with the following table: Not over $10,000 4% of the taxable income ... Over $1,000,000 $91,525, plus 10.75% of the excess over $1,000,000

In the case of a taxable year beginning after December 31, 1986, there is imposed on the taxable income of every resident a tax determined in accordance with the following table: