New Hampshire Proprietorship or Jointly Owned Property Business

Proprietorship or Jointly Owned Property Business 
NH1040
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New Hampshire
Department of
Revenue Administration

2023
NH-1040

Reset Form

*0010402311862*
0010402311862

BUSINESS PROFITS TAX RETURN
Proprietor's Name / Business Organization Name

MMDDYYYY

Taxpayer Identification Number

MMDDYYYY

For the CALENDAR year 2023 or
other taxable period beginning:
1

and ending:

GROSS BUSINESS PROFITS Each business organization must file a separate return.

Round to the nearest whole dollar

1(a) Net profit or loss reported on proprietor Federal Schedule C, Line 31

1(a)

1(b) Net rental profit or loss reported on Federal Schedule E, Line 21

1(b)

1(c) Net farm rental profit or loss reported on Federal Form 4835, Line 32

1(c)

1(d) Net farm profit or loss reported on Federal Schedule F, Line 34

1(d)

1(e) Net gain or loss from the sale of business assets reported on Federal Form 4797, Lines 2(g), 3, 5, 10(g), 14,
16 and 30

1(e)

1(f ) Net gain or loss from sale of investment assets used in business activity reported on Federal
Schedule D, Lines 1(h), 2(h), 3(h), 8(h), 9(h) and 10(h)
1(g) Installment sale gains from the sale of business assets recognized during the period on
Federal Form 6252, Line 24

1(g)

1(h) Other net business income (attach schedule) attributable to this business organization as adjusted
accordingly from Federal Form 1040, Schedule B

1(h)

1(i) Other business income attributable to this business organization as adjusted accordingly from Federal
Form 1040, Schedule 1, Line 8

1(i)

1(j) Subtotal Lines 1(a) through 1(i)
2

1(f )

1(j)

INCREASE or DECREASE TO GROSS BUSINESS PROFITS TO RECONCILE WITH IRC
2(a) Add amount of IRC §179 expense taken on federal return in excess of the amount permitted pursuant
to RSA 77-A:3-b, IV, including carryover amounts deducted in this taxable period

2(a)

2(b) Add the amount of bonus depreciation taken on the federal return for assets placed in service this
period pursuant to RSA 77-A:3-b, I.

2(b)

2(c) Add any other deductions or exclusions taken on the federal return that need to be eliminated or
adjusted pursuant to RSA 77-A:1, XX, and 77-A:3-b, III. Complete and attach Schedule IV

2(c)

2(d) Deduct regular depreciation related to IRC §179 and bonus depreciation not allowed for this taxable
period or for prior taxable periods

2(d)

2(e) Deduct any other items included on the federal return that need to be eliminated or adjusted
pursuant to RSA 77-A:1, XX or RSA 77-A:4, XIX. Complete and attach Schedule IV

2(e)

2(f) Increase or Decrease the net gain or loss on the sale of assets used in the business that have a
different state basis from the tax basis reported on the federal return

2(f)

2(g) Net Lines 2(a) through 2(f)

2(g)

3

Subtotal Line 1(j) adjusted by Line 2(g)

3

4

Separate entity items of income or expense (attach schedule)

4

5

Gross Business Profits (combine Line 3 and Line 4)

5

NH-1040 2023
Version 1 08/2023

Page 1 of 3

New Hampshire
Department of
Revenue Administration

2023
NH-1040

*0010402321862*
0010402321862

BUSINESS PROFITS TAX RETURN
Proprietor's Name / Business Organization Name

MMDDYYYY

Taxpayer Identification Number

MMDDYYYY

For the CALENDAR year 2023 or
other taxable period beginning:

and ending:

NH-1040 continued
6

ADDITIONS AND DEDUCTIONS (RSA 77-A:4)

Round to the nearest whole dollar

6(a) Deduct interest and dividends subject to tax under RSA 77 (RSA 77-A:4, I)

6(a)

6(b) Deduct interest on direct US Obligations (RSA 77-A:4, II)

6(b)

6(c) Deduct compensation deduction for personal services (RSA 77-A:4, III)

6(c)

6(d) Add income taxes or franchise taxes measured by income (Attach schedule of taxes by state)
(RSA 77-A:4, VII)

6(d)

6(e) Deduct wage adjustment required by IRC §280C (RSA 77-A:4, IX)

6(e)

6(f) Add expenses related to federal constitutionally exempt income (RSA 77-A:4, X)

6(f)

6(g) Deduct research contribution (attach computation) (RSA 77-A:4, XII)

6(g)

6(h) Adjustments to gross business profits required due to the increase in the basis of assets resulting from the sale or
exchange of an interest in the business organization (RSA 77-A:4, XIV)
Add the amount of the increase in the basis of assets federally, due to
the sale or exchange of interest in the business organization

6(h) - A
Yes

Check yes if an election is being made to recognize the basis increase for any sale or exchange reported above
If not making an election, deduct the basis increase associated with the
sale or exchange(s). If making an election, enter zero. If reporting multiple
transactions, please attach a schedule reporting the details for each
transaction.

6(h) - B

Add the amount of depreciation/amortization on the federal return attributable
to an increase in the basis of assets not recognized for NH purposes

6(h) - C

Upon the sale of assets, adjust the net gain or loss attributable to an increase
in the basis of assets that was not recognized for NH purposes

6(h) - D

Net Lines 6(h) - A through 6(h) - D

6(h)

6(i) Add Qualified Investment Company (QIC) holders proportional share of QIC profits (RSA 77-A:4, XV)

6(i)

6(j) Net Lines 6(a) through 6(i)

6(j)

7

Adjusted Gross Business Profits (sum of Lines 5, and 6(j))

7

8

New Hampshire Apportionment (If other than 100%, complete Form DP-80 BPT Apportionment Schedule.
Enter percentage from Form DP-80, Line 1(c))
Exempt under P.L. 86-272

9

New Hampshire Business Profits before NOL (Line 7 multiplied by Line 8)

NH-1040 2023
Version 1 08/2023

Multiple Transactions
(schedule attached)

8

9

Page 2 of 3

Yes

New Hampshire
Department of
Revenue Administration

2023
NH-1040

*0010402331862*
0010402331862

BUSINESS PROFITS TAX RETURN
Proprietor's Name / Business Organization Name

MMDDYYYY

Taxpayer Identification Number

MMDDYYYY

For the CALENDAR year 2023 or
other taxable period beginning:

and ending:

NH-1040 continued
10

Deduct New Hampshire Net Operating Loss Deduction (NOLD) (attach Form DP-132) (RSA 77-A:4, XIII):
NOLD available

10 - A

Less NOLD used this tax period

10

NOLD to be carried forward
11

New Hampshire Taxable Business Profits (Line 9 minus Line 10. If negative, enter zero)

12

Compute tax (Line 11 multiplied by 7.5%)

13

(a) BET Credit only - attach BET Credit Worksheet

10 - B
11
12
13(a)

-OR(b) Other credits including BET (attach Form DP-160)
14

New Hampshire Business Profits Tax Net of Statutory Credits (Line 12 minus Line 13(a) or 13(b),
as applicable, cannot be less than zero) Report on BT-Summary, Line 1(b)

13(b)

14

This return must be accompanied by complete and legible copies of the appropriate federal forms and schedules.

NH-1040 2023
Version 1 08/2023

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