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New Mexico Form RPD-41359 for NM PTE Returns and NM PIT-1 Returns

dpmaupincpa
Level 3

New Mexico Department of Revenue instructions for PTE (Pass-Through Entity) tax returns require the attachment of Form RPD-41359 (Annual Statement of Pass-Through Entity) for owners electing to have the PTE file a composite income tax return on the owner's behalf.  And, instructions for NM Form RPD-41359 state that if the PTE is reporting an entity-level tax or composite income tax, Form RPD-41359 is the only reporting document that may be issued to the owner.  Currently, the ProSeries 2025 program does not have Form RPD-41359 as an available tax form to be created when preparing the New Mexico PTE tax return.

Also, when creating a NM Form RPD-41359 for a NM PIT-1 tax return, if an amount is entered on line 3 of RPD-41359 in ProSeries, it posts the amount to line 29 of PIT-1 under the box NM St Tax withheld instead of under the box PTE paid.

Are these oversights by ProSeries that need to be corrected?

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