If you have income that is taxable by Georgia but not taxable to the Federal Government, you must adjust your Federal adjusted gross income. Below is a list of additions that need to be added to your Georgia return:
The following adjustments may be ADDED if applicable:
- Interest received from non-Georgia municipal bonds and dividends received from mutual funds that derived income from non-Georgia municipal bonds.
- Loss carryovers from years when you were not subject to Georgia income tax.
- Lump sum distributions from employee benefit plans reported on IRS Form 4972.
- Depreciation because of differences in Georgia and Federal law during tax years 1981 through 1986.
- Adjustments due to Federal tax changes.
- Federal deduction for income attributable to domestic production activities under I.R.C. Section 199.
- Net operating loss carryover deducted on federal return.
- Payments for more than $600 in a taxable year made to employees which are not authorized employees and which are not excepted by Code Section 48-7-21.1. An authorized employee is someone legally allowed to work in the United States.
- Portion of charitable contributions for which a qualified education expense credit was claimed.
- Taxable portion of withdrawals on the Path2College 529 Plan.
- For the Land Conservation Credit, the charitable donation relating to the credit.
- For the qualified rural hospital organization expense tax credit, the charitable donation relating to the credit. See Regulation 560-7-8-.57 for more information.
Note: If a taxpayer receives a state refund and is not required to include the refund in Federal AGI since they were subject to Federal Alternative Minimum Tax, they are not required to include the refund for Georgia purposes.