IT-QI: Qualified Investor Tax Credit Calculation Form (Revision 2016-01)
Georgia · Georgia DOR · Used for tax years 2024, 2025, 2026
Georgia Form IT-QI calculates the Qualified Investor Tax Credit, also called the Georgia Angel Investor Tax Credit. It reports tax liability after other credits, preapproved credit, credit carried forward from prior years, and unused credit.
Who files this form
Qualified investors use Form IT-QI to calculate and claim the Georgia Qualified Investor Tax Credit, also called the Georgia Angel Investor Tax Credit.
If the qualified investor is a pass-through entity, Section B must be calculated separately for each shareholder, partner, or member on that person’s tax return.
What you'll need
You will need:
- Form IT-QI and an approved Form IT-QI-AP. Both must be attached to the qualified investor’s tax return, except for the electronic-filing exception below.
- The investor’s name, address, FEI number or Social Security number, as applicable, and contact person’s details.
- Figures for tax liability before credits, other credits claimed, the preapproved Qualified Investor Tax Credit for the current tax year, and credit carried forward from prior years.
Individual taxpayers who file electronically do not have to submit the approved Form IT-QI-AP. They must keep it and make it available if the Commissioner requests it.
How to file
- Enter the tax year end and complete Section A with the investor’s identifying and contact information.
- In Section B, subtract other credits claimed on line 2 from tax liability before credits on line 1. Enter the remaining tax liability on line 3.
- Enter the current-year preapproved credit on line 4 and prior-year carryforward on line 5. Add these amounts on line 6.
- If line 6 exceeds line 3, enter the unused credit or carryforward on line 7.
- Attach Form IT-QI and the approved Form IT-QI-AP to the qualified investor’s tax return.
Electronic filing is available for taxpayers claiming this credit. Individual electronic filers do not have to submit the approved Form IT-QI-AP, but must retain it and provide it upon the Commissioner’s request.
Common mistakes
- Exceeding the individual credit limit. The total credit allowed to an individual for a taxable year cannot exceed $50,000, whether investments were made directly or through a pass-through entity.
- Claiming the credit in the wrong tax year. The approved preapproval form states the tax year in which the credit can be claimed.
- Carrying the credit forward too long. The form limits carryforward to five years from the close of the taxable year in which the investment was made. It explains that this is three years from the year in which the credit can be claimed.
- Missing required attachments or records. Attach Form IT-QI and the approved Form IT-QI-AP to the return. Individual electronic filers may omit submitting Form IT-QI-AP, but must keep it.
- Calculating a pass-through entity’s credit only at the entity level. Section B must be calculated for each shareholder, partner, or member on that person’s return.
Questions people ask
How do I know which tax year to claim the credit in?
The qualified investor’s approved preapproval form states the tax year in which the credit can be claimed.
What is the annual credit limit for an individual?
The total credit allowed for one or more qualified investments cannot exceed $50,000 per taxable year. This limit includes investments made directly or through a pass-through entity.
How long can unused credit be carried forward?
The form says carryforward cannot exceed five years from the close of the taxable year in which the qualified investment was made. It explains that the carryforward period is three years from the year in which the credit can be claimed.
Can I file electronically when claiming this credit?
Yes. Electronic filing is available. Individual electronic filers do not have to submit their approved Form IT-QI-AP, but must keep it and make it available upon the Commissioner’s request.