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gaines-terance-r
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My wife and I are in the state of Ga. My wife has turned 62. She is due a 35000 exclusion at this age . Turbo tax is only giving us 6744 dollar exclusion. Why?

retirement exclusion of 35000. Why is Turbo Tax only giving 6744?
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My wife and I are in the state of Ga. My wife has turned 62. She is due a 35000 exclusion at this age . Turbo tax is only giving us 6744 dollar exclusion. Why?

Since we at AnswerXchange cannot see your return nor the screen you are on, I can only speculate. Let me point out that for part-year residents, the $35,000 is prorated.

Let me call your attention to the section headed by "Retirement Income Exclusion" on page 16 in the Individual Income Tax Instructions at this Georgia website.

Let me also note that retirement income does not include income received directly or indirectly from lotteries, gambling, illegal sources or similar income, nor does it include any earned income over $4,000. Therefore, depending on the source of your income, some of it might not be covered by the exclusion.

If these two items do not address your situation, please make new post, listing each type of your income, and whether you were a full-time resident of Georgia.

Or if you have already paid for TurboTax Premier, please contact TurboTax by going to https://ttlc.intuit.com/replies/3300041

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