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Screen NMAdj - New Mexico Income and Adjustments (1040)

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Overview

Use this screen to complete Schedule PIT-ADJ, New Mexico Schedule of Additions, Deductions, and Exemptions.

Additions

UltraTax CS uses information in this section to complete the New Mexico Additions to Federal Adjusted Gross Income Schedule PIT-ADJ
Section 529 college savings plan refunds
Use this field to enter any refunds from a Section 529 college saving funds.

Deductions

UltraTax CS uses information in this section to complete the New Mexico Additions to Federal Adjusted Gross Income Schedule PIT-ADJ
Income of members of a New Mexico federally recognized Indian nation
Amounts entered in this field adjust the calculated amount. UltraTax CS automatically defaults to amounts reported on the federal W2 screen with a New Mexico postal code and State Use code
2
 plus amounts reported on the federal Income or 1099M screen with a New Mexico postal code and State Use code
21
.
Enter the Indian's nation, tribe, or Pueblo for the taxpayer and/or spouse when claiming this deduction.
Income taxpayer/spouse 100 years of age or older
Use these fields to enter the net income not already deducted from federal adjusted gross income for taxpayer and/or spouse who is age 100 or older.
Adjustment for medical care savings account
Enter the amount of New Mexico Medical Care Savings Account (NMMSA) contributions that are qualified for exemption from federal adjusted gross income.
Section 529 college savings plan contributions
UltraTax CS transfers this amount from the Contributions section in the federal 1099Q screen when the postal code is
NM
 and the state use code is
11
. Use this field if you need to enter a different amount.
Net capital gains deduction
Enter the deduction amount if different than the calculated amount. UltraTax/1040-NM automatically defaults to a deduction of up to $1,000, or 50 percent of your federal net capital gains, whichever is greater.
Medical care expenses
UltraTax CS calculates the medical expenses based on data entry in the federal A screen. Use this field if you want an amount different than the calculated amount. The calculated amount or the amount entered here is used in the calculation of the New Mexico Medical Care Expense Worksheet. Expenses entered here may also be used to calculate the refundable medical care credit for persons 65 or older on Form PIT-RC.
Organ donation-related expensese
Enter expenses related to donation of human organs including lost wages, lodging, and/or travel expenses. Deduction is limited to $10,000.
National Guard insurance tax exemption
UltraTax CS transfers amounts from the
Other Income
 statement window in the federal Income screen that has a postal code
NM
 and state use code
20
. Use this field to enter a different amount.
Non-resident US Public Health Service active duty pay
Enter the amount of income earned in New Mexico while on active duty in the U.S. Public Health Service. Only enter the income earned while a non-resident.
Liquor license lessor
Enter the amount of gross receipts from sales of alcoholic beverages made by liquor license if the licensed taxpayer if the dispenser's license and sales of alcoholic beverages for consumptions off premises are less than 50% of total alcoholic beverage sales. Deduction is limited to $50,000 for tax years between 2021 and 2025.
Net Income subject to the entity level tax
Use the statement window to enter data related to entity level tax as reported on the PTW-D (RPD-41367) Enter the pass-through entities EIN, name, and the income amount. A statement will be produced with the required statements for review purposes.

Armed Forces Retirement Pay

UltraTax CS uses information in this section to complete the New Mexico Additions to Federal Adjusted Gross Income Schedule PIT-ADJ
2025
 Taxpayer/Spouse armed forces retirement pay
UltraTax uses the
2025
 armed forces retirement pay to calculate the New Mexico Exemption for Armed Forces Retirement Pay Worksheet current year amount that will be reported on New Mexico Deductions and Exemption from Federal Adjusted Gross Income on Schedule PIT-Adj. Current year military pension is limited to a maximum of $10,000 deduction for
2025
.
2026
 Taxpayer and Spouse armed forces retirement pay
UltraTax uses the
2026
 armed forces retirement pay to calculate the New Mexico Exemption for Armed Forces Retirement Pay Worksheet next year amount that will be reported on the Tax Projection Worksheet. Next year military pension is limited to a maximum of $20,000 deduction for
2026
.

Itemized Deductions

UltraTax CS uses information in this section to complete the New Mexico Additions to Federal Adjusted Gross Income Schedule PIT-ADJ
Adjustment to itemized deduction for Land Conservation Incentives Credit
Enter the amount to be added back to federal adjusted gross income. If you donated land to private nonprofit or public conservation agencies for conservation purposes (from which you claimed a land conservation incentives tax credit on Schedule PIT-CR) and you claimed a charitable deduction for the contribution in your federal itemized deductions on your federal personal income tax return.

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