Screen NMK1 - New Mexico Schedule K-1 Income and Deductions (1065)

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Overview

Use this screen to enter passthrough information for Schedule PTE-B. UltraTax CS automatically transfers all K1 screen information to this input screen. To indicate passthrough income is nonbusiness enter
X
on the NMAlloc screen. If this box isn't marked, UltraTax CS uses the partner’s federal amounts multiplied by the apportionment percentage to calculate state source income.
To change amounts when allocating the New Mexico return, enter data in the applicable boxes or statements in this screen. Amounts that are specially allocated for federal purposes need to be specially allocated for state purposes.

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