Question

Georgia state taxes - Income subtractiona

Forum|Forum|4 years ago
April 5, 2022
1 reply
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Is the subtraction for individual retirement account distributions a one-time adjustment for one year only or can you use for several years?

D

DavidD66

There is a retirement income exclusion in Georgia. For anyone age 62 to 64, the exclusion is $35,000 per person. For age 65 or older, the exclusion is $65,000 per person. That applies to all income from retirement accounts and pensions. You can use it for as long as you have retirement income.

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M

mvpgmpAuthor

I understand that deduction Georgia also has a deduction for retirement income . Under subtractions that is item 5 which states - individual retirement account, keogh, sep and sub-s plan withdrawals where tax has been paid to georiga because of the difference between georgia and federal law for tax years 1982 - 1986. I'm trying to understand if this is a one time (one year) adjustment or an ongoing adjustment.