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April 3, 2024
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GA Form 500 subtracts taxable social secuity twice

  • April 3, 2024
  • 1 reply
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For background, we have:

- $36,739 taxable social security

-       $639 Capital gains

- $37,378 Total

 

Looking at Georgia Form 500, Schedule 3, Page 1

- Line 4, column2 is $37,378 which includes the social security income.

- Line 7, column 2 is $36,739 which is the amount of the social security income.

Thus social security income has been subtracted twice,

resulting in a Georgia AGI of $960 (line 8, column 3).

The AGI seems way too small.

 

    Best answer by DaveF1006

    A protected copy of your return has been sent.

    Your token number is: 1234579

     


    i have reviewed your file and make the following recommendation and noticed that social Security exclusion was subtracted twice in the return.  Here is my recommendation to remedy this so that your GA wages will be counted as income.  This is a workaround because it is too late in the season for our developers to diagnose in fix the issue within the program.

     

    Go to your state tab. In the screen that says Here is the income Georgia Handles Differently, add back in $36,749.  to add;

     

    • Go to miscellaneous
    • Other Additions to Georgia income
    • Give it a description that SS income subtracted twice and then add the amount back in.

    What this will do is to make your wages taxable in GA and exclude the remainder of your income.  

    1 reply

    April 3, 2024

    May I assume that you were part-year or nonresidents in Georgia?

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    harmoniiiAuthor
    April 3, 2024

    Yes. Non-Resident.

    April 4, 2024

    Since Social Security (the federally taxed) portion is not taxed in Georgia, and the Capital Gains shouldn't be taxed much, I don't think that the AGI for Georgia seems very large at all. You are an out-of-state resident, what were you expecting to pay tax on? What do you know that we don't know?

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