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Common questions about individual New Mexico other credits in ProConnect Tax

by Intuit Updated 3 months ago

Below are solutions to frequently asked questions about entering New Mexico other credits in the Individual return.  Refer to this resource from The Taxation and Revenue Department of New Mexico for more information.

Follow these steps to enter NM other credits in the program:

  1. From the Input Return tab, go to State & Local Other Credits NM Other Credits.
  2. Select the Credit Type from the dropdown list.
  3. Enter the Credit Number.
  4. Enter the Year of Approval.
  5. Enter the Amount of Credit Approved.
  6. Enter the Total Credit Claimed in Prior Years (when applicable).
  7. Enter the Amount of Credit To Refund (when applicable).
  8. Follow steps 3-8 for each credit you want to enter.
  • Affordable housing tax credit (All Modules)
  • Angel investment credit (1040 / 1041 only)
  • Advanced energy tax credit (All Modules)
  • Agricultural biomass tax credit (All Modules)
  • Electronic card-reading equipment tax credit (All Modules)
  • Film production tax credit (All Modules)
  • Foster youth employment tax credit (All Modules)
  • New film production tax credit (All Modules)
  • New Mexico film partners new film production tax credit (All Modules)
  • Geothermal ground-coupled heat pump tax credit (All Modules)
  • Intergovernmental business tax credit (1120 / 1120-S only)
  • Job mentorship tax credit (All Modules)
  • Land conservation incentives credit (All Modules)
  • Preservation of cultural property credit (All Modules)
  • Rural job tax credit (All Modules)
  • Rural health care practitioners tax credit (1041 only)
  • Renewable energy production tax credit (All Modules)
  • Solar market development tax credit (1041 only)
  • Sustainable building tax credit (1041 / 1120 / 1120-S only)
  • New sustainable building tax credit (All Modules)
  • New solar market development tax credit (1040 / 1041 only)
  • Technology jobs and research and development (additional) tax credit (All Modules)
  • Veteran employment tax credit (All Modules)
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