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Ira basis adjustment 1981 to 1986 if I wasnt born during this time do I need this filled out for state tax?

Very new first time filing myself and idk what this all is and there closed please someone help
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3 Replies

Ira basis adjustment 1981 to 1986 if I wasnt born during this time do I need this filled out for state tax?

It would be for Georgia I'm not sure if that helps 

KeshaH
Employee Tax Expert

Ira basis adjustment 1981 to 1986 if I wasnt born during this time do I need this filled out for state tax?

Since you didn't make any contributions to an IRA during those years, you can leave that field blank.

 

Prior to 1981, the rules for deducting contributions to IRAs were different between the federal government and Georgia. Between 1981 and 1986, the state of Georgia adopted federal law in regards to deducting IRA contributions. However, the state adopted the law as of 1981 so there were still some differences between the deduction for federal and the deduction for state in those years.

 

Now, when you take a distribution from your IRA, the state will allow a one-time deduction that's equal to the value of the contributions that were made during those years that weren't deductible on the Georgia return.

 

Based on the information you provided, you would not have an adjustment to make for this screen. You can leave it blank and continue.

Ira basis adjustment 1981 to 1986 if I wasnt born during this time do I need this filled out for state tax?

Thanks so much!

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