501: Fiduciary Income Tax Return (2025)
Georgia · Georgia DOR · Used for tax years 2025
Georgia Form 501 is the 2025 Fiduciary Income Tax Return for estates and trusts. It reports fiduciary income, adjustments, beneficiaries’ shares of income, and the calculation of Georgia tax, credits, payments, and any balance due or refund.
What you'll need
- Federal return and schedules: Attach a copy of the estate’s or trust’s federal return and supporting schedules. Form 501 uses adjusted total income from federal Form 1041.
- Identification and contact information: Have the estate’s or trust’s name and federal employer identification number, plus the fiduciary’s name, title, address and telephone number. The form also asks for the decedent’s date of death or the trust’s creation date.
- Beneficiary information: For each beneficiary in Schedule 3, provide their name, address, city, state, ZIP code, country, ID number and share of income.
- Other-state tax return, if applicable: Include a copy if claiming a credit for tax paid to another state.
- Payment and withholding information: The form asks for Georgia estimated tax paid and tax withheld shown on Forms 1099, G2-A, G2-LP and/or G2-RP.
- Credit information, if applicable: Have the credit codes, company names, ID numbers and Department of Revenue credit certificate numbers, where applicable.
How to file
Complete the return and applicable schedules. Print numbers in black or blue ink. The fiduciary must sign and date the return and attach a copy of the federal return and supporting schedules.
Mail to:
Georgia Department of Revenue Processing Center
PO Box 740316
Atlanta, Georgia 30374-0316
If you owe tax, make your check payable to Georgia Department of Revenue.
Electronic filing for credits: Credits on Schedule 5 and refundable credits on Schedule 5B cannot be claimed unless filed electronically. Schedule 6 also states that credits must be filed electronically.
Common mistakes
- Leaving out required attachments: The fiduciary must attach the federal return and supporting schedules. A credit for another state’s tax requires a copy of that state’s return.
- Claiming Schedule 5 or Schedule 5B credits without filing electronically: The form says these credits cannot be claimed unless filed electronically.
- Treating purchased Timber Tax Credits as refundable: Purchased Timber Tax Credits are not refundable. Use Schedule 5 instead of Schedule 5B.
- Skipping a credit schedule because the credit is unused: Complete a schedule for a credit eligible for carryover to this tax year, even if it is not used this year. Complete a separate schedule for each credit code.
- Carrying forward an unreduced credit amount: Before applying the Line 14 carryover to the next tax year, reduce it by amounts elected to be applied to withholding for this tax year and by expired carryovers.
- Omitting pages from a net operating loss application: Schedule 7 says pages 1 and 2 of Form 501 must be included.
Questions people ask
What exemption amounts are listed for 2025?
Schedule 1 lists a $1,350 exemption for a trust and a $2,700 exemption for an estate. For part-year and nonresident fiduciaries, Schedule 4 multiplies the exemption by the ratio calculated on Line 9.
Which schedule covers part-year and nonresident fiduciaries?
Schedule 4 computes Georgia taxable income for part-year and nonresident fiduciaries. It has separate columns for income from all sources and Georgia-source income, and it instructs you to round to the nearest dollar.
Can a refund be directly deposited?
The form offers direct deposit to U.S. checking or savings accounts and asks for routing and account numbers. If you do not enter direct deposit information, or if you are a first-time filer, you will receive a paper check.
Can an overpayment be applied to next year’s estimated tax?
Yes. Line 14 lets you enter the amount of the overpayment from Line 13 to credit to next year’s estimated tax.
How are credits allocated to beneficiaries?
Schedule 6 says credits are apportioned between the fiduciary and beneficiaries based on the fiduciary’s income and the income distributed to beneficiaries. Use that schedule to list the amounts allocated to beneficiaries for each credit code.