IT-QLED-TP2: Qualified Law Enforcement Donation Credit Computation (2024)
Georgia · Georgia DOR · Used for tax years 2024
Georgia Form IT-QLED-TP2 computes the income tax credit for qualified contributions to a qualified law enforcement foundation. It reports amounts contributed and approved and calculates the credit using the applicable limitations. The completed form is attached to the taxpayer’s
Who files this form
Taxpayers claiming the Qualified Law Enforcement Donation Credit use Form IT-QLED-TP2 to compute the credit and attach it to their income tax return.
The form has separate 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 ready:
- Your name or entity name, taxpayer identification number, tax year ending date, and taxpayer type.
- The total amount contributed and the amount approved.
- For Section A, the pre-approved amount on Form IT-QLED-TP1 returned to you by the Department.
- For Section B, Georgia income from the taxpayer-selected pass-through entities.
- For Section C, your tax liability.
How to file
Complete your identifying information and fill in Section A, B, or C, as appropriate for your taxpayer type.
Use that section to calculate your credit. Enter the credit allowed on the appropriate income tax form, then attach Form IT-QLED-TP2 to your income tax return when you file it.
Common mistakes
- Missing the Georgia addback. If you deducted the contribution amount from your federal income, the form says you must add it back to your Georgia income tax or the credit cannot be claimed.
- Designating the contribution for a particular individual. The form requires you to confirm that you did not do this.
- Forgetting to attach the computation form. The form directs you to enter the credit on the appropriate income tax form and attach Form IT-QLED-TP2.
Questions people ask
What is Form IT-QLED-TP2 used for?
It computes the income tax credit for qualified contributions to a qualified law enforcement foundation. The form describes it as the third step in the credit process.
How is the tentative credit calculated in Section A?
Use the smaller of the total amount expended or the pre-approved amount from Form IT-QLED-TP1. This is the tentative credit before the income tax liability limitation.
What limitation does Section C use?
Section C multiplies tax liability by 5%. The credit allowed is the smallest of the total amount expended, the total amount approved, or that calculation.
Which S corporations and partnerships use Section C?
Section C includes S corporations that elect to pay tax at the entity level under O.C.G.A. § 48-7-21 and partnerships that make that election under O.C.G.A. § 48-7-23.