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In 1981, Georgia enacted an income tax exclusion for retirement income received by taxpayers aged 62 years and over. Currently, taxpayers aged 65 and over may exclude up to $65,000, while those 62 to 64 (as well as those permanently and totally disabled) may exclude up to $35,000.
In 1981, Georgia enacted an income tax exclusion for retirement income received by taxpayers aged 62 years and over. Currently, taxpayers aged 65 and over may exclude up to $65,000, while those 62 to 64 (as well as those permanently and totally disabled) may exclude up to $35,000.
Does Georgia's definition of "retirement income" for this $35000 exemption include traditional IRA withdrawals? (will get 1099)
@teryan- wrote:
Does Georgia's definition of "retirement income" for this $35000 exemption include traditional IRA withdrawals? (will get 1099)
Yes, withdrawals from a Traditional IRA that are reported on a Form 1099-R would be included.
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