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Screens

Screen NMAlloc - New Mexico Income Allocation (1040)

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Overview

Use this screen to complete Form PIT-B.

Commercial Domicile

UltraTax CS uses information in this section to complete portions of Form PIT-B.
Do NOT have a commercial domicile in New Mexico
Mark this field if you don't have a commercial domicile in New Mexico. UltraTax CS automatically assumes that a commercial domicile exists in New Mexico and therefore allocates interest and dividend income, for nonresidents, to New Mexico based on instate percentage indicated on the federal input screens.

Instate Income Amounts

UltraTax CS uses information in this section to complete portions of Form PIT-B.
Schedule D (Force) / Form 4797 (Force)
UltraTax CS calculates the amount of all gains and losses based on postal codes entered in the following federal input screens:
  • Income B&D - Dividend income (for any capital gains entered).
  • Income B&D - Schedule D schedule for detail.
  • Schedule C, E, F, and 4835 - Any sales of business assets causing a gain or loss.
  • K-1 P/S and K-1 E/T - Any capital gains entered under dividends, any capital gains / losses listed, any gains or losses from sales of assets.
  • CasBus - Any gain created by Casualty / Theft.
  • Per Sale Home, InstPY, Sale, 8824 - Any gain created by sale entered in these screens.
  • Itemized - Any gains created by sale of assets listed on 2106, Schedule A, 8824, InstPY, and/or Sale.
The Schedule D (Force) replaces all gains reported on the federal return under Capital gain or (loss) with postal code
NM
. The Form 4797 (Force) replaces all gains reported on the federal return under Ordinary gains or (losses) with postal code
NM
.
Rents and royalties (Force)
UltraTax CS calculates the amount for all Page 1 items reported on the federal schedule, and Page 2 items under Part IV Income or Loss from REMICs with postal code
NM
. Use this field if you want to enter an amount different than the calculated amount.
Pass-through income or loss (Force)
UltraTax CS calculates the amount from all pass-through entities with postal code
NM
. Use this field if you want to enter an amount different than the calculated amount.
Net operating loss carryover (Force)
Enter the New Mexico amount of the net operating loss if different than the federal return.

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