Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
State income tax return question
Old 12-27-2015, 02:07 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,083
State income tax return question

I retired in Thailand 10 years and decided to return to the states. I do my own taxes using Taxact software. Since I have only lived in Georgia 6 months. The rules I read tend to discuss locally earned income (work, rental) between two or more states.
I have two possible issues.
When I came to Georgia, I only got a 6 month lease on a furnished apartment since I wasn't sure if we wanted to stay here. In the mean time, I did get a GA driver's license because I needed it to buy a car. I don't own any real estate property or worked in Georgia. Am I a resident of Georgia now?
If I am a Georgian resident,
Is there an issue when in 2015 I was a resident of Thailand and now I am in Georgia?
My income only comes from investments and savings, so do I divide my 2015 income by either 365 days or 12 months and then multiple either the number of days or months I have lived in Georgia?
Is that they way it is done?
Thanks for any advice.
__________________

__________________
I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

State income tax return question
Old 12-27-2015, 04:01 PM   #2
Recycles dryer sheets
Tandemlovers's Avatar
 
Join Date: Aug 2006
Posts: 151
State income tax return question

Not sure how it's done in Georgia, but in Wisconsin, we have a part year resident tax form for people who split their time between WI and another state. This form also applies to people who move to WI mid year and need to account for income.

Try this:
https://dor.georgia.gov/nonresidents...year-residents
__________________

__________________
Tandemlovers is offline   Reply With Quote
Old 12-27-2015, 04:48 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,083
Thanks for the reply.
Georgia has a similar form but I am not sure how one divides investment and interest income that are not state specific generated?
__________________
I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote
Old 12-27-2015, 05:46 PM   #4
Thinks s/he gets paid by the post
Sunset's Avatar
 
Join Date: Jul 2014
Location: Chicago
Posts: 4,738
My understanding is in Georgia, you divide the income by the percentage of time you lived in Georgia, as you suggested in your Original Post.
This is even when its from outside Georgia.

I did read: $65,000 of retirement income, which includes income from IRAs and 401(k)s, is exempt for those 65 and up.

So it's not all bad.
__________________
Sunset is offline   Reply With Quote
Old 12-27-2015, 06:43 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Posts: 1,661
I would call the Georgia tax office and ask. I looked up the directions online and it looks similar to my state. They seem to want to see tax being paid to another state. They may or may not have an option for another country.
I would think by getting a driving license, you likely declared your residency.
When I was working overseas, I kept my state residency, so we just paid. But this was to keep the residency for college consideration for our children when we returned.
You really need someone who did what you did with your state and likely in recent years.
Call you state tax department. You might even get the right answer. I'm sure others would like to hear the result.
__________________
bingybear is offline   Reply With Quote
Old 12-27-2015, 07:09 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,083
Thanks again for the replies.
Sunset, the 65K deduction was one of the reasons why I chose Georgia.
Bingybear, I plan to call them but I was hoping for a home run here. I don't know they would have an answer to my overseas/state issue. It may not be a normal situation for them.
__________________
I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote
Old 12-28-2015, 09:42 PM   #7
Thinks s/he gets paid by the post
Sunset's Avatar
 
Join Date: Jul 2014
Location: Chicago
Posts: 4,738
I don't see how Georgia can want to see tax paid to another state, as about 7 states have zero income tax. Which would be like living in another country.
__________________

__________________
Sunset is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Another tax question: State tax paid as a deduction BBQ-Nut FIRE and Money 9 02-19-2015 08:53 AM
Why is NC state income tax so f#@&ing high? soupcxan Other topics 45 08-18-2013 04:56 PM
Turbo Tax - Tax-Exempt Income not added to State Return Felix Mulier FIRE and Money 18 04-07-2013 12:46 PM
Net impact of living in no-state-tax state ? Delawaredave5 FIRE and Money 46 01-06-2013 08:01 PM
Supporting Statements with Income Tax Return TromboneAl FIRE and Money 5 02-14-2009 01:16 AM

 

 
All times are GMT -6. The time now is 07:09 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.