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New Member
posted Feb 23, 2024 7:15:00 AM

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.

0 3 1054
3 Replies
Expert Alumni
Feb 25, 2024 10:31:30 AM

 

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.

 

 

New Member
Feb 25, 2024 4:07:50 PM

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.

Expert Alumni
Feb 26, 2024 6:41:10 AM

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