Horseaddict
Level 3
06-18-2021
09:44 AM
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Thanks for response. I actually file the return with the credit, however New Mexico has reduced the refund and in a letter stated that the allocation form should be used.
The taxpayer sold rental property in another state and recognized a capital gain, but is a full-year resident of new Mexico. It was my determination as a full year resident, he would simply receive credit for the taxes paid. New Mexico apparently disagrees.