Form It-Qee-Tp2 - Qualified Education Expense Credit Computation Page 2
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Georgia Form IT-QEE-TP2
(Last Rev. 2/12)
Qualified Education Expense Credit Computation
Georgia Department of Revenue
Version 2
Enter the credit allowed on the appropriate income tax form and attach this form, and Form IT-QEE-SSO1.
Requirements
The Official Code of Georgia Annotated establishes an income tax credit for qualified education expenses.
A credit is allowed for the expenditure of funds by the taxpayer to a student scholarship organization, operating pursuant to
Chapter 2A of Title 20, which uses the contribution for tuition and fees for a qualified school or program.
In order to claim this credit, the amount must have been preapproved by the Department of Revenue. Once preapproval was
received, the taxpayer must have made the contribution to the student scholarship organization within 60 days of the date of
the preapproval notice received from the Department and within the calendar year in which it was approved.
In order to claim this tax credit, a letter of confirmation of donation issued by the student scholarship organization to which the
contribution was made must be attached to the taxpayer’s tax return. Form IT-QEE-SSO1 is used for this purpose.
Individual Taxpayers
An individual taxpayer is allowed a credit for qualified education expenses as follows:
(1) In the case of a single individual or a head of household, the actual amount expended or $1,000.00 per tax year, whichever
is less; or
(2) In the case of a married couple filing a joint return, the actual amount expended or $2,500.00 per tax year, whichever is less; or
(3) In the case of a married person filing a separate return, the actual amount expended or $1,250.00 per tax year, whichever
is less.
For an individual taxpayer the credit is further limited and may not exceed the taxpayer’s income tax liability. The amount of the
credit that exceeds the taxpayer’s income tax liability can be used against the next succeeding five years’ tax liability.
Corporate and Fiduciary Taxpayers
A corporation or fiduciary is allowed a credit for qualified education expenses in an amount not to exceed the lesser of the
actual amount expended or 75 percent of the corporation’s or fiduciary’s income tax liability. Any of this lesser amount
(amount expended or 75% of the corporation’s or fiduciary’s income tax liability) that is not used can be used against the
succeeding five years’ tax liability. A fiduciary cannot pass through the credit to its beneficiaries.
Electronic Filing
Electronic filing is available for taxpayers claiming this credit. Individual taxpayers that electronically file their tax return do not
have to submit Form IT-QEE-SSO1. Form IT-QEE-SSO1 shall be maintained by the taxpayer and made available upon request
by the Commissioner.
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