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Federal 1099-R. Enter the amount for which Georgia taxes were already paid due to Federal/Georgia tax law differences from 1987-1989. Help?

Above question is reference TP teachers Retirement distributions entered on 1099-R.
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Vanessa A
Expert Alumni

Federal 1099-R. Enter the amount for which Georgia taxes were already paid due to Federal/Georgia tax law differences from 1987-1989. Help?

If you had contributions as a teacher in between 1987 and 1989, Georgia did not give you a tax break on those contributions, meaning you already paid taxes on that money.  So, when you are taking the distribution, you would not need to pay taxes on THAT portion again.  So, if this applies to you, you would enter your contributions made during that period.  If this does not apply to you, you can leave it blank or enter 0 whichever it tells you to do.  

 

 

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Vanessa A
Expert Alumni

Federal 1099-R. Enter the amount for which Georgia taxes were already paid due to Federal/Georgia tax law differences from 1987-1989. Help?

If you had contributions as a teacher in between 1987 and 1989, Georgia did not give you a tax break on those contributions, meaning you already paid taxes on that money.  So, when you are taking the distribution, you would not need to pay taxes on THAT portion again.  So, if this applies to you, you would enter your contributions made during that period.  If this does not apply to you, you can leave it blank or enter 0 whichever it tells you to do.  

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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