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    MKV's Avatar
    MKV Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 28, 2008, 03:37 PM
    Bank Interest income on 1099 INT is taxable at state level
    Hi,

    I have received interest on my deposits in bank. I have got 1099 INT for the same from the bank. Federal income has been withheld on some of the amount.

    Do I need to pay Georgia State taxes on interest earned on the bank deposits?

    Thanks
    MKV
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Mar 30, 2008, 05:53 AM
    You must file federal income tax return if you total income meets the filing requirement.
    Same for Georgia state.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #3

    Mar 31, 2008, 09:34 AM
    Since you report your federal adjusted gross income on your GA tax return, any interest you received (as reported on a 1099-INT) is included as income for both your federal and state income taxes.
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