Form PIT-B new mexico

Forum|Forum|5 years ago
June 17, 2021
2 replies
15 views

The program automatically populates the form credit for taxes paid to other states. I need to allocate the income on the PIT B, and remove the Credit form. Any ideas of removing the form?

ProSeries Basic

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

hmmm, some states are reverse credit states (where the non resident state gives credit, not the resident state), but again, Im not familiar with NM.

Just-Lisa-Now-

Intuit Community Champion

Im not familiar with NM itself, but if youve got a resident/nonresident situation happening, credit for taxes paid to another state seems appropriate....did you use the state allocation area at the bottom of the Federal Information worksheet to allocate the income to the correct states?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

H

HorseaddictAuthor

Level 3

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.

Just-Lisa-Now-

Answer

Intuit Community Champion

hmmm, some states are reverse credit states (where the non resident state gives credit, not the resident state), but again, Im not familiar with NM.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

M

Miche

Level 2

I had this exact same problem. Proseries needs to correct this for New Mexico.

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