Question

New Georgia State Income Tax Exclusion for Military Pension

Forum|Forum|3 years ago
December 23, 2022
1 reply
0 views

The Ga. General Assembly passed a tax exclusion for military pension income last spring. The exclusion has a floor of $17,500, but can climb to $35,000 if the recipient of the pension continues working in another career and earns more than $17,500. TurboTax Deluxe 2022 does not seem to be giving me the full exclusion, although I am still working a civilian job and making more than the amount required to get my exclusion up to $35,000. Since this is a new provision in state law, it's possible that TurboTax staff has misinterpreted it. I've tried to find some way to write them to let them know, but have had no luck. I'm posting here in hopes that they see it and can check the program and ensure that it accurately applies the new Georgia law.

Thank you.

DoninGA

Employee

Look at the Georgia Schedule 1 Page 3 for the military retirement income exclusion. If you are under age 62 and have entered military retirement income reported on Form 1099-R the program should calculate your exclusion correctly up to $35,000.

Use the TurboTax desktop editions click on Forms. When in Forms mode in the Georgia section open Schedule 1.

M

Mojo117Author

Thanks, Don. The program does have this all accounted for. I jumped the gun and hadn't entered all of my estimated entries for my W-2. I'm all for paying my share, but this exclusion is going to come in handy until I turn 62 and become eligible for the exclusion that all Georgians get on retirement income. Thanks for your quick response!