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Qualified Education Expenses
Georgia provides a tax credit for qualified educational expenses. An individual is eligible for a credit of up to $1,000 (single or head of household), $1,250 (married filing separate), or $2,500 (married filing joint). A corporation is eligible for a credit amount that can equal up to 75% of its income tax liability. The credit is allowed on a first come, first served basis. The taxpayer must add back to taxable income that part of any federal charitable contribution deduction taken on a federal return for which a credit is allowed. The aggregate amount of tax credits allowed to all taxpayers is $50 million per tax year. Taxpayer must request preapproval to claim this credit on Form IT-QEE-TP1. For more information, refer to O.C.G.A. § 48-7-29.16.
In the Georgia program on the screen that states Take a Look at Georgia Credits under the section Personal, home and family credits, on Education Expense Credit, click the start or update button.
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