MarilynG
Expert Alumni

Investors & landlords

Per Alumni @IreneS:

 

"First enter the federal K-1.

 

Georgia does not have an actual entry for Form 700.  What you need to do is compare the amounts on the federal K-1 with the amounts reported on the GA 700.  Any differences will be reported on the GA return as additions to or subtractions from Georgia income.

To enter this information:
 

  1. In your GA return go to the screen, Here's the income that Georgia handles differently.
  2. In the Miscellaneous section click on Start/Revisit box next to either:
  • Other Additions to Georgia Income -  Additions are items that get taxed on your Georgia return but not on your federal return and increase the income that Georgia will tax.
  • Other Subtractions from Georgia Income - Income that is not taxable for GA purposes that was reported on your federal return.

Follow the instructions on the screens."

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