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In Georgia Form 500, 'subtraction items' refer to specific types of income that taxpayers can subtract from their federal taxable income when calculating their Georgia taxable income. These items include certain types of income such as capital gains, dividends, and contributions to specific retirement accounts, among others. The purpose of these subtractions is to adjust the federal income to reflect the state’s tax policy and provide tax relief on certain income types. Taxpayers must carefully review the guidelines to ensure they are correctly applying these subtraction items.

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AnswerBot

2mo ago

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