Georgia Form 500 - Indvidual Income Tax Return/georgia Form Ind-Cr - State Of Georgia Individual Credit Form - 2015 Page 14
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IND-CR
Georgia Form
State of Georgia Individual Credit Form
YOUR SOCIAL SECURITY NUMBER
Georgia Department of Revenue
2015
Part 8- Adoption of a Foster Child Credit - Tax Credit Type 208
Georgia Code Section 48-7-29.15 provides an income tax credit for the adoption of a qualified foster child. The amount of
the credit is $2,000 per qualified foster child per taxable year, commencing with the year in which the adoption becomes
final, and ending in the year in which the adopted child attains the age of 18. This credit applies to adoptions occurring in
the taxable years beginning on or after January 1, 2008. Any unused credit can be carried forward until used.
.
00
1. Credit remaining from previous years.................................... 1.
.
00
2. Enter $2,000 per qualified foster child.................................... 2.
.
00
3. Enter credit used in 2015 (enter here and include in Part 12).......... 3.
.
00
4. Carryover to 2016 (Line 1 plus Line 2 less Line 3)...............
4.
Part 9- Eligible Single-Family Residence Tax Credit - Tax Credit Type 209
O.C.G.A. § 48-7-29.17 provides taxpayers a credit for the purchase of an eligible single-family residence located in Georgia. An
eligible single-family residence is a single-family structure (including a condominium unit as defined in O.C.G.A.§ 44-3-71) that
is occupied for residential purposes by a single family, that is:
a) Any residence (including a new residence, one occupied at the time of sale, or a previously occupied residence) that was
for sale prior to May 11, 2009 and that remained for sale after May 11, 2009; or
b) A residence with respect to which a foreclosure event has taken place and which is owned by the mortgagor or the mortgagor’s
agent; or
c) An owner-occupied residence with respect to which the owner’s acquisition indebtedness was in default on or before March
1, 2009. Acquisition indebtedness is debt incurred in acquiring, constructing, or substantially improving a qualified residence
and which is secured by such residence. Refinanced debt is acquisition debt if at least a portion of such debt refinances the
principal amount of existing acquisition indebtedness.
A taxpayer is allowed the tax credit for a purchase of one eligible single-family residence made between June 1, 2009 and
November 30, 2009. The credit amount is the lesser of 1.2 percent of the purchase price of the eligible single-family residence
or $1,800.00. The amount of the tax credit that may be claimed and allowed in a single tax year cannot exceed the lesser of
1/3 of the credit or the taxpayer’s income tax liability. Any unused tax credit can be carried forward but cannot be carried back.
The taxpayer must have claimed the credit in 2009 in order to claim the unused credit below.
.
00
1.
1. Total credit. (Enter amount from 2009 IND-CR, Part 9, Line 5.)...............................
33
.33
%
2. Maximum allowed per year...................................................................................
2.
.
00
3. Maximum credit allowed, (multiply Line 1 by Line 2)................................................
3.
.
00
4.
4. Enter unused credit (Total credit less amounts used in previous years)..................
.
00
5.
5. Credit allowed, lesser of line 3 or line 4....................................................................
.
00
6.
6. Credit used in 2015 (enter here and include in Part 12)...........................................
.
00
7.
7. Carryover to 2016 (Line 4 less Line 6).....................................................................
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