I read it and the application. How is that different from a Schedule C (farm or any business loss) which flows to the State Form as GA starts with your Federal Adjusted Gross Income. You can also have a loss on a rental house that is shown on Schedule E (also flows to the GA form).
The Georgia Form 500 also is 5 pages long. Last year I didn't send in p.4 which was all zero's. I got a letter from the Georgia Department of Revenue demanding p.4. OK, I wrote 0 on the lines and mailed it in. I was cleared.