Retirement income in Georgia
Varies
Does Georgia Tax Retirement Income?
Short answer: Partly. Taxpayers 62–64 (or permanently disabled) may exclude up to $35,000, and those 65+ up to $65,000 per person of retirement income, including pensions, 401(k)/IRA withdrawals, and up to $5,000 of earned income.
Pensions, traditional IRA and 401(k) withdrawals are taxable federally either way; Roth withdrawals after 59½ (5-year rule met) are tax-free.
Records to keep: Keep your state return, W-2s and 1099s (1099-R, SSA-1099), and any state credit worksheets. Check your state revenue department's current-year instructions before you file.
Retirement income in Georgia
Varies
Individuals / Personal Taxes
Partly. Taxpayers 62–64 (or permanently disabled) may exclude up to $35,000, and those 65+ up to $65,000 per person of retirement income, including pensions, 401(k)/IRA withdrawals, and up to $5,000 of earned income.
Business justification
Partly. Taxpayers 62–64 (or permanently disabled) may exclude up to $35,000, and those 65+ up to $65,000 per person of retirement income, including pensions, 401(k)/IRA withdrawals, and up to $5,000 of earned income. Pensions, traditional IRA and 401(k) withdrawals are taxable federally either way; Roth withdrawals after 59½ (5-year rule met) are tax-free.
Category
- Personal Tax Deductions