IT-QEE-TP2: Qualified Education Expense Tax Credit Computation Form (2024)
Georgia · Georgia DOR · Used for tax years 2024
Georgia Form IT-QEE-TP2 computes the income tax credit for qualified education expenses. It records the amount spent, the approved amount, and the credit allowed, with separate sections for individuals, certain pass-through entity owners, and entities. The completed form is attac
Who files this form
Taxpayers claiming the Georgia qualified education expense income tax credit complete Form IT-QEE-TP2 and attach it to their income tax return. This is the third step in the credit process.
The form has separate calculation sections for:
- Individuals.
- Individuals who are LLC members, S corporation shareholders, or partners in a partnership.
- Corporations, fiduciaries, and S corporations or partnerships that elect to pay tax at the entity level.
The 2024 form applies to taxable years beginning on or after January 1, 2024.
What you'll need
Have the following information and forms available to complete the calculation:
- Your taxpayer name, identification number, and tax year ending date.
- The total amount spent and the approved credit amount. Section A specifically uses the pre-approved amount from Form IT-QEE-TP1 returned by the Department.
- Whether you received Form IT-QEE-SSO1 from the SSO, as the form asks this question.
- For Section B, Georgia income from the selected pass-through entities and the applicable tax rate.
- For Section C, your tax liability.
How to file
Complete your taxpayer information and fill in either Section A, B, or C, as applicable.
Enter the allowed credit on the appropriate income tax form. Attach the completed Form IT-QEE-TP2 to your income tax return when you file it.
Common mistakes
- Not adding back a federal deduction. If you deducted the amount from federal income, the form says you must add it back to Georgia income to claim the credit.
- Designating the amount for a particular individual. The form says the credit cannot be claimed if you did this.
- Leaving the credit off your return or forgetting the attachment. The form directs you to enter the allowed credit on the appropriate income tax form and attach Form IT-QEE-TP2.
Questions people ask
What is Form IT-QEE-TP2 used for?
It computes the income tax credit for qualified education expenses. The form identifies itself as the third step in the credit process.
How is the Section A credit calculated?
The tentative credit is the smaller of the total amount spent or the pre-approved amount from Form IT-QEE-TP1. This calculation is before the income tax liability limitation.
How is the Section B credit calculated?
Multiply Georgia income from the selected pass-through entities by the applicable tax rate. The allowed credit is the smallest of that result, the total amount spent, or the total amount approved.
What limit applies in Section C?
Section C multiplies tax liability by 75%. The allowed credit is the smallest of that result, the total amount spent, or the total amount approved.