Entering the Georgia Timber Tax Credit in Lacerte

New Georgia Timber Credit entries were introduced for Lacerte 2019 and newer versions. This credit can be either refundable or non-refundable.

Entering the Credit in Lacerte

The Georgia Timber Tax credit can be entered in Screen 53.202, Georgia Credits.

Follow these steps to enter as Nonrefundable credit:

1. Go to Georgia Credits:
   • Individual: Screen 53.202, Georgia Credits.
   • Partnership: Screen 41.202, Georgia Credits.
   • Corporate: Screen 49.202, Georgia Credits.
   • S-Corporation: Screen 47.203, Georgia Credits.
   • Fiduciary: Screen 57.202, Georgia Credits.
2. Enter the Credit type code (Ctrl+T) using the dropdown options to select 'Timber Tax Credit (nonrefundable)'.
3. Enter any Credit carryover amounts, if applicable.
4. For a Credit Originating with Taxpayer, enter the Credit certificate # and Amount of credit.
5. For Credit Originating with Other Entity, enter the Company Name, ID#, Credit Certificate #, Amount of Credit, and % of Credit.
6. To enter multiple credits, click the Add button located in the left navigation panel.

Follow these steps to enter the Refundable credit:

1. Go to Georgia Credits:
   • Individual: Screen 53.202, Georgia Credits.
   • Partnership: Screen 41.202, Georgia Credits.
   • Corporate: Screen 49.202, Georgia Credits.
   • S-Corporation: Screen 47.203, Georgia Credits.
   • Fiduciary: Screen 57.202, Georgia Credits.
2. Click the GA Credits button located at the beginning of this input screen.
3. Scroll down to the Refundable Credits section.
4. Enter the Timber tax credit amount.
5. Enter the Timber tax credit amount sold, if applicable.
6. Enter the Timber tax credit certificate number.
7. Enter the Credit Originating with Other Entity, if applicable.
8. Enter the Refundable credit to carryover to next year, if applicable.

Note: The refundable business credit will go to a new page.  The refundable credit prints on the page directly following the non-refundable credit. Example: In the Individual module the refundable Timber Tax Credit will print on a new Schedule 2B.