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Monthly benefits from TRS are subject to Georgia income tax for Georgia residents.
Monthly benefits from TRS are subject to Georgia income tax for Georgia residents.
Turbo tax will not allow me to remove the exclusion. How do I fix so that it shows taxable for Georgia
Go back to the federal return and remove the Form 1099R for that income. Then go to state and edit. Review to see if the income was removed. If so then return to Federal, Wages and Income, scroll down to Form 1099r then edit/add and re-enter to see if it translates property to the state.
Georgia allows taxpayers age 62-64 to exclude up to $35,000 or retirement income on their tax return. Taxpayers under age 62 and permanently disabled also qualify for the exclusion. Taxpayers age 65 or older can exclude up to $65,000 of their retirement income on their tax return.
@DJM 23
According to my informations retirement benefits for Georgia Teacher Retirement Systems is taxable. Turbotax keeps applying the $65,000 exclusion, it won't allow me to remove
@DJM 23 wrote:
According to my informations retirement benefits for Georgia Teacher Retirement Systems is taxable. Turbotax keeps applying the $65,000 exclusion, it won't allow me to remove
All retirement income is eligible for the Retirement Income Exclusion on a Georgia state tax return. If you are age 65 or older the exclusion is up to $65,000.
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