I am a nonresident who inherited property in Georgia in 2020 and sold it in 2021 with a 3% withholding on the sale of the property. Can I file a return to get this back?

dawilliams-oig · ‎April 11, 2022

Since there is no inheritance tax in GA, will filing a state return get those funds back?

ErnieS0 · ‎April 11, 2022

Yes. File a nonresident Georgia income tax return to report the sale of inherited property.

You will get back any withholding left over after tax. The value of inherited property is the fair market value on date of debt so your gain or loss will be the difference of what you sold it for and what it was worth when you inherited it.

Is money received from the sale of inherited property considered taxable income?

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View solution in original post

ErnieS0 · ‎April 11, 2022

Yes. File a nonresident Georgia income tax return to report the sale of inherited property.

You will get back any withholding left over after tax. The value of inherited property is the fair market value on date of debt so your gain or loss will be the difference of what you sold it for and what it was worth when you inherited it.

Is money received from the sale of inherited property considered taxable income?

**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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I am a nonresident who inherited property in Georgia in 2020 and sold it in 2021 with a 3% withholding on the sale of the property. Can I file a return to get this back?