O.C.G.A. § 48-7-29.4 provides for a credit for a taxpayer who receives disaster assistance during a taxable year from the Georgia Emergency Management and Homeland Security Agency or the Federal Emergency Management Agency.
The following types of assistance qualify:
- Grants from the Department of Human Services' Individual and Family Grant Program.
- Grants from GEMA/HS and/or FEMA.
- Loans from the Small Business Administration that are due to disasters declared by the President or Governor.
The amount of the credit is equal to $500 or the actual amount of the disaster assistance, whichever is less. The credit cannot exceed the taxpayer's income tax liability. Any unused tax credit can be carried forward to the succeeding years' tax liability. The approval letter from the disaster assistance agency must be enclosed with the return.
To claim the Disaster Assistance Credit in the Georgia individual tax return in TaxSlayer Pro, from the Georgia Tax Return menu select:
- Total Nonrefundable Credits
- Credits from Form IND-CR
-
Disaster Assistance Credit
- Credit remaining from previous years - Enter the amount, if any, of credit carried forward from the prior year.
- Name of disaster assistance agency - Enter the name of the agency that provided the assistance.
- Date disaster assistance was recvd - Enter the date the assistance was received.
- Amount of disaster assistance received - Enter the amount of assistance received.
For a return being e-filed, to attach a PDF copy of the approval letter select:
- Personal Information
- Other Categories
- Attach Supporting Documentation
Additional Information:
Georgia DOR: IT-511 - Individual Income Tax Instruction Booklet