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?
Since there is no inheritance tax in GA, will filing a state return get those funds back?
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1 Best answer
ErnieS0
Expert Alumni
Apr 11, 2022 1:48:49 PM
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.
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.