Georgia Non-Res Sold GA Real Estate

[RitaB]

I have a TN resident, sold 2nd home in GA. Did not live in it. The gain would be GA source income, right? I can't find it spelled out anywhere.

Thanks

[Burke]

Yes. "Nonresidents compute tax based on AGI from GA sources -- which includes all items of AGI received from GA sources while a non-resident." TTB All States, page GA-5.

[ChEAr$]

I have a TN resident, sold 2nd home in GA. Did not live in it. The gain would be GA source income, right? I can't find it spelled out anywhere.

Thanks

your software should handle it okay with a GA non resident return, using schedule 6.

Now, it wasn't perchance a RENTAL HOUSE? (grin

(been there, done that for client)

[RitaB]

Actually

your software should handle it okay with a GA non resident return, using schedule 6.

Now, it wasn't perchance a RENTAL HOUSE? (grin

(been there, done that for client)

Actually, I was just interested in whether it was taxable or not. Gains on asset sales are not taxable in TN. I figured it was taxable in GA, but did not see it addressed in the Instructions, per se.

I did an override on Sch 3 page 6 of the GA 500, which appears to be the return for all residency statuses. I am not seeing a Schedule 6. Is there a Non-Resident return for GA?

This is a DIYer who couldn't DIY. He says his son has been living in it rent free. I believe him.

Been where, done what?

[ChEAr$]

Assuming that you have Georgia state returns installed within your software, and you mark the form for sale of the house as Georgia source income, the GA return should be set up automatically..

Of course overrides are always welcome if needbe. (grin)

Georgia income tax form is the form 500, used by all, residents, part year and non residents.
The latter two also fill out the page 6 which contains schdule 3. Look for it and make sure the GA screen is marked non resident.

I was talking about having had a client in NC sell his GA rental house and of course all the depreciation taken was taxable to GA. Didn't mean I had been to his house in North Georgia; actually only passed by it some time or another in earlier years. I so love those mountains.

Didn't mean I'd done that either, selling real estate.

Or as we say in the south, "Done been there." (grin

[Burke]

If you are using ATX, page down to the bottom of GA 500 and page ALL the way to the right, almost to the end, where you will see Sche 3. Click on it, and voila!

[ChEAr$]

If you are using ATX, page down to the bottom of GA 500 and page ALL the way to the right, almost to the end, where you will see Sche 3. Click on it, and voila!

And if you're using Drake, take two aspirin and call me in the morning; before 9:30 am est.

Been there. Will do it again.