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ga tax 2021
Georgia State Taxes, over 65. It did not allocate capital gains between Taxpayer and spouse even tho shown on federal as jt
not so. when it goes down to line 17 on sch 1 of ga return, spouse is not given half of the cap gains and her exclusion is less than taxpayer. If it had been equally divided, taxpayer and spouse would each have a 65,000 exclusion wherby the spouse's is only 58,311.
Understand. Because GA limits the exclusion to $65,000 for taxpayer as well as spouse, putting the entire amount in the Taxpayer column has caused the taxpayer to exceed the limit while leaving the spouse short of the limit.
In the forms view, select the GA "Inc/Ret Wks" and split the asset sales in half between the taxpayer and spouse columns.
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