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temay
New Member

TurboTax is not calculating correctly Georgia Form 500 ES Part I, Line 1b., “100% of tax for 2024 estimated taxable income." Not updated for 2024 Georgia taxes.

See 2023 Georgia Tax Booklet, page 7, "2024 Income Tax Changes".   TurboTax is not using the current standard deductions nor the new flat tax rate of 5.49% effective January 01, 2024.
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3 Replies
LindaS5247
Expert Alumni

TurboTax is not calculating correctly Georgia Form 500 ES Part I, Line 1b., “100% of tax for 2024 estimated taxable income." Not updated for 2024 Georgia taxes.

 

Some Georgia TurboTax customers are experiencing an issue because TurboTax isn't using the flat tax rate of 5.49% for 2024 estimated taxes.

 

We’re currently working to resolve this issue. Please click here to receive progress updates on this.

 

 

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temay
New Member

TurboTax is not calculating correctly Georgia Form 500 ES Part I, Line 1b., “100% of tax for 2024 estimated taxable income." Not updated for 2024 Georgia taxes.

Linda has provided the correct Georgia 2024 tax info.  The problem is that the 2023 TurboTax software has not been updated to make that calculation for 2024 estimated Georgia taxes.

DMarkM1
Employee Tax Expert

TurboTax is not calculating correctly Georgia Form 500 ES Part I, Line 1b., “100% of tax for 2024 estimated taxable income." Not updated for 2024 Georgia taxes.

This is a reported/known experience.  Here is a link to sign up for updates. 

**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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