Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen NMSTCr - New Mexico Credit Taxes Paid Other State (1040)

Show all hidden content

Overview

Use this screen to complete the New Mexico Credit for Taxes Paid to Other States Worksheet. UltraTax CS calculates multiple copies of the New Mexico Credit for Taxes Paid to Other States, as required.
If UltraTax CS is used to calculate another state’s return and it generates a credit for taxes paid to another state, UltraTax/1040-NM automatically includes a copy of that return. When filing on paper, a paper copy prints. When filing electronically, a portable document format (PDF) of the nonresident return is attached.

State and Income Information

UltraTax CS uses information in this section to complete the New Mexico Credit for Taxes Paid to Other States Worksheet. Complete 1 unit of the input screen for each state to which taxes were paid. If you're using UltraTax CS to process a multiple-state return, process the nonresident state(s) first, followed by the resident state. UltraTax/1040-NM transfers information from the nonresident return(s) to the resident return that is necessary to complete the credit for taxes paid to other states. UltraTax CS calculates copies of the worksheet, as required.
State postal code / State name
If you completed a nonresident return using UltraTax CS, UltraTax/1040-NM automatically completes the
State postal code
 and
State name
 fields for the resident return. If you didn’t use UltraTax CS to file a nonresident return, make an entry in the
State postal code
 field and UltraTax/1040-NM completes the
State name
 field.
Tax paid to above state
If you completed a nonresident return using UltraTax CS, UltraTax/1040-NM automatically completes the
Tax paid to above state
 field for the resident state return. Use the
Force
 column to enter the tax paid if it is different from the calculated amount. If you didn’t use UltraTax CS to complete a nonresident return for which you would like to claim this credit, enter the tax paid from that state’s tax return in the
Force
 column.
Total income taxed by other state
If you completed a nonresident return using UltraTax CS, UltraTax/1040-NM automatically completes the
Total income taxed by other state
 field for the resident state return. Use the
Force
 column to enter the gross income if it is different from the calculated amount. If you didn’t use UltraTax CS to complete a nonresident return for which you would like to claim this credit, enter the gross income from that state’s tax return in the
Force
 column.
Income subject to taxation in New Mexico and other state
If you completed a nonresident return using UltraTax CS, UltraTax/1040-NM assumes the gross income subject to taxation in other state as taxable in New Mexico. Enter the amount of double taxed income in this field. This entry is required in order to correctly calculate the New Mexico Credit for Taxes Paid to Other States Worksheet.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close