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Screen NMCR-2 - New Mexico Refundable Credits (1040)
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Overview
Use this screen to complete Forms PIT-1 and PIT-RC, Pages 1 and 2. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NM shows it on the forms only, not in the input screen.
General Information
Use this section to complete portions of Form PIT-RC Section I: Qualifications for rebates and credits reported in Section II to V.
Not physically present for at least 6 months during the year (Force)
Use this field to indicate residents who don't meet the 6 month physically present requirement for credits. For part-year residents, the 6 months time frame is determined by the dates of residency.
Inmate of a public institution for more than 6 months during the year
Enter
X
if the taxpayer and/or spouse was an inmate of a public institution for more than 6 months during the year. UltraTax CS automatically defaults to No
.Household members that DO NOT qualify
Enter the number of household members who don't qualify to be claimed on Form PIT-RC.
Modified Gross Income
Use this section to complete Form PIT-RC modified gross income. Modified gross income is income for all taxpayers and household members undiminished by losses. Use this section when the taxpayer has income which is not federally taxable or when other household members earned income that's not included on this return.
Public assistance and TANF
Enter the amount of public assistance and TANF received.
Supplemental security income (SSI)
Enter the amount of supplemental security income benefits received.
Capital gains undiminished by capital losses (Force)
Enter the amount of capital gains undiminished by capital losses, including any gain on the sale of personal residence in the current year that's deferred or not subject to federal income tax, federal Form 2119 Gain Deferral, if different than the calculated amount.
Other income
In the statement window, enter the description and amount of other income items not included in any of the fields in the New Mexico Form PIT-RC, Rebate and Credit Schedule.
Person 65 or Older - Property Tax Rebate
Use this section to complete portions of Form PIT-RC Section III: Property tax rebate for persons 65 or older.
Tax billed for the calendar year on principal place of residence (Force)
Enter the amount of tax billed for the calendar year on the principal place of residence if different than the calculated amount from the federal A screen.
Rent includes amount paid on your behalf by a government entity
Enter
X
if the amount of rent paid during the tax year for the principal place of residence includes rent paid on the taxpayer's behalf by a government entity.Los Alamos or Santa Fe Low Income Property Tax Rebate
Use this section to complete portions of Form PIT-RC Sections IV: Additional low income property tax rebate for Los Alamos or Santa Fe County.
Resident county
Use this field to indicate the resident county of the taxpayers. If eligible, the additional low income property tax rebate is calculated.
Tax billed for the calendar year on principal place of residence (Force)
UltraTax CS defaults to the amount of property tax listed on federal Schedule A coded as primary residence. Enter an amount if different than the calculated amount.
Other Refundable Credits
Use this section to complete portions of Form PIT-RC Section V: New Mexico Child Day Care Credit and Section VI: Refundable Tax Credits.
Child Care Credit
In the statement window, select the qualified dependents, indicate the number of days care was provided, and enter the amount paid per day to a qualified day care provider that hasn't been previously reimbursed.
Renewable Energy Production tax credit
In the statement window, enter the information needed to complete New Mexico Form PIT-CR. Enter the Credit Approval Number and the amount of refundable credit. If there is more than 1 Credit Approval number, enter each approval number as a separate item. Also complete noncalculating Form RPD-41227.
Film Production tax credits
In the statement window, enter the information needed to complete New Mexico Form PIT-CR. Enter the Credit Approval Number and the refundable credit amount. If there is more than 1 Credit Approval number, enter each approval number as a separate item. Also, complete noncalculating Form RPD-41228.
Technology Jobs and Research and Development (Additional) tax credit
In the statement window, enter the information needed to complete New Mexico Form PIT-CR. Enter the Credit Approval Number and the refundable credit amount. If there is more than 1 Credit Approval number, enter each approval number as a separate item. Also, attach Form RPD-41386 as a PDF attachment to your electronically filed return.
Sustainable Building credit
In the statement window, enter the information needed to complete New Mexico Form PIT-CR. Enter the Credit Approval Number and the amount of refundable credit. If there is more than 1 Credit Approval number, enter each approval number as a separate item. Also complete noncalculating Form RPD-41329.
Nurse credit
In the statement window, enter T or S taxpayer spouse column then Enter the employer EIN from the completed the
2025
Nurse Credit Statement Form PIT-NC. This form should be signed by the hospital representative and attached to the nurse taxpayer's return to claim the credit.Working Family Tax Credit calculated EIC
Enter the calculated earned income credit for a taxpayer who didn't qualify for the federal earned income tax credit but qualifies for the New Mexico credit.
note
A taxpayer who would have received federal earned income credit but didn't qualify because they were between between 18 and 25 or who didn't have a federal acceptable identification number should look up the credit that would've been allowed and then the New Mexico PIT-1 will calculate the credit at 20% of the amount entered.