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New Mexico Personal Income Tax Return
Extracted from PDF file 2023-new-mexico-form-pit-1.pdf, last modified August 2023Personal Income Tax Return
2023 PIT-1 *230180200* NEW MEXICO PERSONAL INCOME TAX RETURN For the year January 1 - December 31, 2023 or fiscal year beginning F.1 ending F.2 If amending use Form 2023 PIT-X. FOR DEPARTMENT USE ONLY Get your refund faster, file online using Taxpayer Access Point TAP https://tap.state.nm.us. Print your name (first, middle, last) SOCIAL SECURITY NUMBER 1a Blind Age 65 Residency status or over Taxpayer's date of birth 1b 1c 1d 1e 1f 2b 2c 2d 2e 2f Print your spouse's name (first, middle, last). If married filing separately, include spouse. 2a 3a 4. If a deceased taxpayer's refund must be made payable to a person other than the taxpayer or spouse named on this return, enter below the name and social security number of that person. You must also attach Form RPD-41083. If the address is new or changed, mark this box. Mailing Address (Number and street) 3b City State Postal/ZIP Code 3c If foreign address, enter country Spouse's date of birth If taxpayer or spouse died before this 4c return is filed, enter date of death. Residency status: For taxpayer and spouse (1e and 2e), enter: Name 3d R if Resident N if Non-Resident F if First-Year Resident P if Part-Year Resident 4b EXEMPTIONS: Taxpayer, spouse, dependents, and other dependents reported on federal Form 1040. If you are a dependent or other dependent of another taxpayer, enter 00. (See instructions) 5. EXTENSION OF TIME TO FILE: If you have a federal or state 6a extension, mark box 6a and enter the extension date in box 6b. SSN 6b 8. DEPENDENTS AND OTHER DEPENDENTS. As listed on your federal return. (You must report the first 5 dependents and other dependents in this table. Use Schedule PIT-S for additional entries.) Column 3 Column 1 Column 2 Date of birth (MM/DD/CCYY) First name Last name Dependent's SSN Spouse's date of death 4d 4a Foreign province and/or state Taxpayer's date of death 7. FILING STATUS. Mark only one box. (1) Single (2) Married filing jointly (3) Married filing separately (Enter spouse's name and social security number in 2a and 2b.) (4) Head of household (Enter name of person qualifying you as head of household if that person is not counted as a qualified dependent on your federal return.) (4a) (5) Surviving Spouse with dependent child 9. FEDERAL ADJUSTED GROSS INCOME. (from federal Form 1040 or 1040SR, line 11)..................................... 10. If you itemized your federal deduction amount, enter the amount of state and local tax deduction claimed on federal Form 1040, Schedule A, line 5a. See the worksheet in the instructions...................................................... 11. Total Additions to federal adjusted gross income (PIT-ADJ, line 6). Attach PIT-ADJ............................................. 12. Federal standard or itemized deduction amount (from federal Form 1040, line 12)............................................... 12a. If you itemized, mark the box..................................................................................................... 12a 13. Deduction for certain dependents. See the worksheet in the instructions............................................................... 14. New Mexico low- and middle-income tax exemption. See PIT-1 instructions.......................................................... 15. Total Deductions and Exemptions from federal income (PIT-ADJ, line 27). Attach PIT-ADJ................................. 16. Medical care expense deduction. See PIT-1 instructions........................................................................................ You must complete both lines 16 and 16a or the deduction will be denied. 9 + + - 10 - 13 = 17 11 12 14 15 16 16a. Unreimbursed and uncompensated medical care expenses............. 16a 17. NEW MEXICO TAXABLE INCOME. Add lines 9, 10 and 11, then subtract lines 12, 13, 14, 15 and 16................ Cannot be less than zero 18. New Mexico tax on amount on line 17 or from PIT-B, line 14................................................................................. 18a. From Tax Rate Table = R. From PIT-B, line 14 = B..................................................................... 18a 19. Additional amount for tax on lump-sum distributions. See PIT-1 instructions.......................................................... 20. Credit for taxes paid to another state. You must have been a New Mexico resident during all or part of the year. Include a copy of other state's return. See PIT-1 instructions................................................... 21. Business-related income tax credits applied, from Schedule PIT-CR, line A. Attach PIT-CR.................................. 22. NET NEW MEXICO INCOME TAX. Add lines 18 and 19, then subtract lines 20 and 21. Cannot be less than zero.................................................................................................................................................................. Electronic filers: If you file your New Mexico Personal Income Tax return online and also pay tax due online, your due date is April 30, 2024. All others must file by April 15, 2024. See PIT-1 instructions for details. 18 + - 19 = 22 20 21 Continue on the next page. *230190200* 2023 PIT-1 (page 2) NEW MEXICO PERSONAL INCOME TAX RETURN YOUR SOCIAL SECURITY NUMBER Do not submit a photocopy of this form to the Department. Submit only original forms and keep a copy for your records. If submitting this return by mail, send to: New Mexico Taxation and Revenue Department, P. O. Box 25122, Santa Fe, New Mexico 87504-5122 23. The amount on line 22 from page 1........................................................................................................................ 24. Total claimed on rebate and credit schedule (PIT-RC, line 26 ). Attach PIT-RC................................................... 25. Working families tax credit. (You must complete lines 25, 25a, and 25b* or the deduction will be denied.)........... 25a. The amount of federal earned income credit (EIC) reported on your 25a 2023 federal income tax return or calculated under NM Expansion..... 25b. *NM Expansion Only: Check this box if you did not qualify for the EIC on your federal return.. 25b 26. Refundable business-related income tax credits from Schedule PIT-CR, line B. Attach PIT-CR.......................... 27. New Mexico income tax withheld. Attach annual statements of income and withholding................................ 28. New Mexico income tax withheld from oil and gas proceeds. Attach 1099-Misc or RPD-41285.......................... 29. New Mexico income tax withheld from or paid by a pass-through entity. Attach 1099-Misc or RPD-41359......... 30. 2023 estimated income tax payments. See PIT-1 instructions................................................................................ 31. Other Payments....................................................................................................................................................... 32. TOTAL PAYMENTS AND CREDITS. Add lines 24 through 31............................................................................... 33. TAX DUE. If line 22 is greater than line 32, enter the difference here................................................................... 34. Penalty on underpayment of estimated tax. See PIT-1 instructions ....................................................................... 35. Special method allowed for calculation of underpayment of estimated tax penalty. If you owe penalty on underpayment of estimated tax and you qualify, enter 1, 2, 3, 4, or 5 in the box. Attach RPD-41272.................... 36. Penalty. See PIT-1 instructions. ............................................................................................................................. 37. Interest. See PIT-1 instructions. ............................................................................................................................. 38. TAX, PENALTY, AND INTEREST DUE. Add lines 33, 34, 36, and 37.................................................................... 39. OVERPAYMENT. If line 23 is less than line 32, enter the difference here............................................................. 40. Refund voluntary contributions (PIT-D, line 18). Attach PIT-D................................................................................. 41. Amount from line 39 you want applied to your 2024 Estimated Tax.................................................................. 42. AMOUNT TO BE REFUNDED TO YOU. Line 39 minus lines 40 and 41............................................................... Refund Express!! 24 + 25 + + + + + + = 26 + 27 28 29 30 31 32 33 34 35 + + = = 36 37 38 39 40 41 42 Have it directly deposited! See instructions and complete all questions in this block. RE. 1 Routing Number RE.3 Account Type: Checking RE. 2 Account Number Re. 4: Will this refund go to or through an account outside of the United States? Important: If "yes," you can not use this refund method. See instructions. HSD. 1 23 Savings Yes No Check this box if you would like to see if you and the members of your household qualify for medical insurance through the Human Services Department (HSD) or Health Insurance Exchange (NMHIE). Important: Checking this box gives the Taxation and Revenue Department permission to share information provided on the PIT-1 and PIT-S with HSD and NMHIE. See instructions for additional information. I declare I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief it is true, correct, and complete. Your signature Paid preparer's use only: Date Signature of preparer Driver's License, State ID No. or enter "NONE" or "DECLINED" State Date P.2 Firm's name (or yours, if self-employed) NMBTIN P.3 Preparer's PTIN Expiration Date P.4 FEIN P.5 Preparer's phone number P.1 Spouse's signature Spouse's Driver's License, State ID No. or enter "NONE" or "DECLINED" State (If filing jointly, BOTH must sign even if only one had income.) Taxpayer's phone number Taxpayer's email address Date Expiration Date P.6 Mark this box if Form RPD-41338 is on file for this taxpayer. See PIT-1 instructions.
Form PIT-1
More about the New Mexico Form PIT-1 Individual Income Tax Tax Return TY 2023
Everyone who is require to file a New Mexico Individual Income Tax Form needs to fill out and file a FORM PIT-1.
We last updated the Personal Income Tax Return in January 2024, so this is the latest version of Form PIT-1, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form PIT-1 directly from TaxFormFinder. You can print other New Mexico tax forms here.
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| Form Code | Form Name |
|---|---|
| Form PIT-ES | Estimated Payment Voucher |
| Form PIT-1 | Personal Income Tax Return |
| Income Tax Instructions | Individual Income Tax Instructions |
| Form PIT-RC | Rebate & Credit Schedule |
| Form PIT-ADJ | Schedule of Additions & Deductions and Exemptions |
View all 81 New Mexico Income Tax Forms
Form Sources:
New Mexico usually releases forms for the current tax year between January and April. We last updated New Mexico Form PIT-1 from the Taxation and Revenue Department in January 2024.
Form PIT-1 is a New Mexico Individual Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of New Mexico Form PIT-1
We have a total of thirteen past-year versions of Form PIT-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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