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New Member
posted Mar 27, 2024 2:20:30 PM

georgia retirement exclusion

Turbo gave me the 65,000.00 georgia retirement exclusion. I'm not retired, but I am 66. I also took money from my 401K last year. I do gamble. I want to know if I am entitled to this deduction and Why? 

0 9 1687
9 Replies
Level 15
Mar 27, 2024 2:22:39 PM

All Georgia residents age 65 or older are eligible for the Retirement Income Exclusion of $65,000 on the Georgia state income tax return.

New Member
Mar 27, 2024 2:28:01 PM

thank you.

 

Level 2
Mar 17, 2025 5:11:42 PM

I am 64 and my wife is 62 and we both qualified for exclusion.  Why?

Level 15
Mar 17, 2025 6:08:05 PM


@JEFrink83 wrote:

I am 64 and my wife is 62 and we both qualified for exclusion.  Why?


Georgia residents age 62 thru age 64 are eligible for the Retirement Income Exclusion up to $35,000 for each taxpayer.

New Member
Mar 21, 2025 12:17:36 PM

Hi, I turned 65 in July of 2024. Does this $65000 exclusion apply to my 2024 Georgia tax return? 

Level 15
Mar 21, 2025 12:21:57 PM


@Gumlogtax wrote:

Hi, I turned 65 in July of 2024. Does this $65000 exclusion apply to my 2024 Georgia tax return? 


Yes.  Since you turn 65 in 2024 you are eligible for the $65,000 Retirement Income Exclusion on the 2024 Georgia state tax return.

New Member
Mar 23, 2025 12:41:16 PM

Why isn't TurboTax including the retirement income exclusion for both my wife and me on our Georgia Tax return for 2024? It only includes it for me. 

Level 15
Mar 23, 2025 12:45:28 PM

@Gumlogtax Your spouse would be eligible for her income (wages, Social Security, retirement) to be excluded if she was age 62 or older.  What is her age in 2024?

New Member
Mar 23, 2025 1:01:12 PM

She is 65. After reviewing the forms TurboTax has allocated all of the interest and dividend income that we receive from a joint account to me and none of it to my wife. I can't figure out where to allocate it equally between us.