Georgia Retirement Taxes

Forum|Forum|3 years ago
June 22, 2023
3 replies
2 views

What is the IRA Required Minimum Distribution considered as for Georgia? RMD is required for us 70+ retirees to withdraw from our IRAs each year and is taxed under Form 1040, Line 4a, IRA Distributions. Is it part of the "retirement income" although it is not specifically stated as such? It is not treated as Earned Income for Federal tax purposes.

Not A Product Question

Critter-3

Level 15

Is it part of the "retirement income" although it is not specifically stated as such? Yes it is.

It is not treated as Earned Income for Federal tax purposes. That is correct.

DoninGA

Level 15

If you are age 65 or older on a Georgia state income tax return you are eligible for up to $65,000 in Retirement Income Exclusion. The exclusion is for any taxable retirement/pension income reported on the federal return Lines 4b or 5b and taxable Social Security income reported on your federal tax return Line 6b. The federal adjusted gross income from Line 11 flow to your Georgia return Form 500 Line 8.