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  • Instructions For Completing Form G-2rp Copy 1 - Formsend

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5. Date of sale 1a. Address 3. Buyer s Name 4. Buyer s Social Security or FEI Number 6. Total sales price $ 7. Taxable amount or gain (optional) $ 8. Amount withheld or remitted to State $ Remit to: Georgia Department of Revenue P.O. Box 49432 Atlanta, GA 30359 3a. Address COPY 1 - STATE COPY Remit tax by mailing this form with payment for the amount on Line 8 on or before the last day of the month following the closin.

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Georgia residents who sell their primary residence will generally not be required to pay capital gains tax on the first $250,000 of profit generated by the sale. Spouses filing a joint return may exclude the first $500,000 gained from the sale of their home.

State Capital Gains Tax Rates StateState %Combined %Delaware6.6031.60District of Columbia10.7535.75Florida0.0025.00Georgia5.7530.7548 more rows

Withholding on Sales or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents.

You must have lived in the home for at least two of the last five years. You must also not have excluded gain from the sale of another home within the last two years. An important thing to note is that the amount you can exclude is limited. A single person can exclude up to $250,000 in profit.

Section 48-7-128 generally requires that 3 percent of the purchase price be withheld. However, if the gain recognized on the sale is less than the purchase price, and the seller provides the buyer with an affidavit of gain (see form IT-AFF2), then the buyer may withhold 3 percent of the amount of the gain.

The seller is typically responsible for paying real estate transfer taxes in Georgia, which are $1 for every $1,000 of the sale price. So, if you sell your home for $600,000, your tax bill for transferring ownership will be $6,000.

The seller is typically responsible for paying real estate transfer taxes in Georgia, which are $1 for every $1,000 of the sale price. So, if you sell your home for $600,000, your tax bill for transferring ownership will be $6,000.

Can Home Sales Be Tax Free? The seller must have owned the home and used it as their principal residence for two out of the last five years (up to the date of closing). ... The seller must not have sold a home in the last two years and claimed the capital gains tax exclusion.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232