Georgia 2011: Deferred ROTH IRA Income
Taxpayers who are either age 62 or older or disabled may avoid paying state tax on a portion of their income, when certain conditions are met.
Certain customers, who were age 62 or older or disabled and elected to defer paying tax on their 2010 ROTH IRA conversion, may have filed an incorrect Georgia tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following are true:
- You filed your 2011 Georgia tax return before May 24, 2012 AND
- You and/or your spouse were age 62 or older OR disabled during 2011
- OR you filed as a Nonresident or Part-Year resident of Georgia AND
- In 2010, you chose to defer your federally taxable ROTH IRA conversion amount to years 2011 and 2012 AND
- You did not have a 2011 federal Form 8606 with an amount on Line 26 AND
- You had an amount on Form 500, Page 4, Line 6a or 6b
If you are affected, you may have underpaid your Georgia tax. You may need to amend your Georgia tax return.
You can make the corrections yourself.
- To do it yourself, please follow these step-by-step instructions.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
- If you need assistance, call us at the phone number in the email.
Or let us do the work for you.
- Please download and print this Authorization Form.
- Complete the form and fax it to us at the number printed at the top of the form.
- A TurboTax representative will contact you (within 15 days) when your corrected return is ready to be securely emailed back to you.
- You can print, sign, and mail the corrected return to the state taxing authority.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Georgia 2011: Retirement Exclusion-ROTH IRA.