Pre-approval to claim the credit on Form IT-QEE-TP2 is required. Once approved, the contribution must have been made within 60 days of the pre-approval notice.
Taxpayers that make a contribution to a student scholarship organization (operating pursuant to Chapter 2A of Title 20) must retain the letter of confirmation received from the student scholarship organization.
If the taxpayer is able to take the credit, the part of the federal charitable contribution that is taken must be added back to Georgia taxable income.
Individual Taxpayers Credit Limits:
- Single or Head of Household filers - $2,500 per tax year or actual amount- whichever is less
- Married filing a joint return - $5,000 or the actual amount- whichever is less
- Married filing separate returns - $2,500 or the actual amount- whichever is less
Single filers- amount of credit may not exceed tax liability. The excess may be rolled over for five years.
- State Section
- Georgia Return
- Non IND-CR Credits
- Form IT-QEE-TP Qualified Education Expense Credit