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1 reply

MelanieC1
November 15, 2023

Hi @Amajette34 ,

 

Congratulations on your success from Crypto!  No matter if you are a simple investor or a millionaire please be sure to properly report you crypto transactions in your tax returns. 

 

For all of our Crypto Investors TurboTax recently launched our TurboTax Investor CenterThis crypto tax solution enables you to track and plan ways to reduce your taxable gain.  Other highlights include:

  • Tax Outcome Tracker
  • Portfolio Monitoring
  • Tax Optimization and
  • Integrations

 

Thank you for joining us today!

MelanieCPA

MelanieC1
November 16, 2023

Hi @Amajette34 ,

 

The Georgia state tax return starts with your Federal adjusted gross income (AGI).  Your Federal AGI includes your capital gains and losses (as allowed) from the sale of crypto.  From your Federal AGI, you are permitted certain state deductions and credits that may apply to you.  However,  there are no deductions or credits for crypto investment sales at this time.  Georgia does not tax capital gains differently than other income.

 

If this doesn't fully answer your question, please reply with more details so I can assist you!

 

Thank you,

MelanieCPA