Form 501/501X, Adjustments and credits (1041 GA)
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Use Form 501/501X, Page 3 to calculate adjustments to income. Additions and subtractions for nonresidents calculate on the GA Nonresident Estate or Trust Taxable Income Worksheet in the Wrk folder in Form view.
Page 4
Form 501, Page 4 reports pass-through and business credits. Data entry for pass-through and business credits is on the GAPay screen in the Payments folder. Each credit code you enter on the GAPay screen will calculate its own form, with a maximum of 34 forms. The state allows carryovers of pass-through and business credits.
The last unit of Form 501, Page 4 will report the Credit for Taxes Paid to Other States. The credit for taxes paid only applies to resident estates and trusts. The credit calculates on the GA State Tax Credit Worksheet. Georgia does not allow a carryover for an unused current year credit for taxes paid to other states.
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