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March 14, 2025
Question

Handling an Annuity Inheritance in Georgia

  • March 14, 2025
  • 0 replies
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My husband inherited 1/3rd of an annuity when his mother passed. I thought Georgia didn't have an inheritance tax. They are taxing us on the same amount that the federal is. The 1099-R has $197,009.24 in Box 1, $161,679.44 in Box 2a, and $35,329.80 in Box 5. The distribution codes are 4D. TurboTax Georgia is including the amount in box 2a as income. Does anyone know if that is accurate?

 

Thanks for the help!