Form Pit-1 - New Mexico Personal Income Tax - 2005 Page 3
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2
32005 PIT- ADJ
*50280200*
SCHEDULE OF ADDITIONS AND DEDUCTIONS
YOUR SOCIAL SECURITY NUMBER
NEW MEXICO DEDUCTIONS/EXEMPTIONS FROM FEDERAL ADJUSTED GROSS INCOME
00
1
1.
New Mexico tax-exempt interest and dividends ...........................................................................................
00
2
2.
Net New Mexico operating loss (See PIT-ADJ instructions) .........................................................................
+
00
3
3.
Interest received on U.S. Government Obligations .......................................................................................
+
4.
Taxable Railroad Retirement Act annuities and benefits; taxable Railroad Unemployment Insurance
4
00
Act sick pay ...................................................................................................................................................
+
5.
Income of an Indian that was wholly earned on the lands of the reservation or pueblo of which the
individual is an enrolled member while domiciled on that land, reservation or pueblo. I am enrolled
5
00
as a member of the
Indian Nation, Tribe or Pueblo ..................
+
6.
Income of persons age 100 years or older. If you or your spouse is age 100 or older you must
check the box below, or your exemption will be disallowed
6
00
....................................................................
100 or older
Spouse 100 or older
+
7.
Exemption for persons age 65 and older or blind. If you or your spouse is age 65 or older
or blind, you must check the box below, or your exemption will be disallowed
7
00
.............................................
65 or older or blind
Spouse 65 or older or blind
+
8
00
8.
Exemption for adoption of special needs children (See PIT-ADJ instructions) ..........................................
+
9
00
9.
Exemption for NM Medical Care Savings Account (See PIT-ADJ instructions) .........................................
+
10
00
10. Deduction for contributions to a New Mexico Education Trust Board Account ..........................................
+
11
00
11. Net Capital Gains Deduction (See PIT-ADJ instructions) ...........................................................................
+
12
00
12. Nonresident military wages or salary (See PIT-ADJ instructions) ................................................................
+
13
00
13. Medical care expense exemption for persons age 65 years or older .........................................................
+
14. Deduction for organ donation-related expenses ..........................................................................................
+
14
00
15. Exemption of 2005 income tax energy rebate included in federal taxable income ......................................
+
15
00
16. TOTAL DEDUCTIONS/EXEMPTIONS (Add lines 1-15. Enter here and on line 10 of Form PIT-1.) .............
=
16
00
NEW MEXICO ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME
17. Interest and dividends from federal tax-exempt bonds ................................................................................
17
00
18. Net operating loss (See PIT-ADJ instructions) ..............................................................................................
+
18
00
19. Contributions refunded upon termination of a college investment agreement or a prepaid tuition contract
19
00
from the New Mexico Education Trust Fund. ................................................................................................
+
20
00
20. TOTAL ADDITIONS (Add lines 17-19. Also enter on line 7 of Form PIT-1) ..................................................
=
NEW MEXICO NONREFUNDABLE TAX CREDITS
21. For persons who were New Mexico Residents during all or part of the year - Credit for taxes paid
21
00
to another state (See PIT-ADJ instructions. Include a copy of other state’s return) ................................
On lines 22 and 23 you may claim any of the New Mexico Tax Credits listed below.
22. Enter the number* of the tax credit you wish to claim in 22a ................................................... 22a
22b
00
and the amount of the tax credit claimed in 22b. ............................................................................................ +
23. Enter the number* of the tax credit you wish to claim in 23a ................................................... 23a
23b
00
and the amount of the tax credit claimed in 23b. ............................................................................................ +
24. TOTAL NONREFUNDABLE CREDITS (Add lines 21, 22b and 23b. Enter here
24
00
and on line 15 of Form PIT-1. Attach PIT-ADJ to form PIT-1) ....................................................................... =
*01, 02, 03, 04, 05, 06, 07, 08 or 09 (see below)
05. Technology Jobs Tax Credit (Include Form RPD-41244)
01. Cultural Properties Preservation Credit (Include certification & Form PIT-4)
06. Credit for Electronic Identification Card Reader
02. Qualified Business Facility Rehabilitation Credit (Include certification
(Include Form RPD-41246)
& Form PIT-5)
07. Credit for Produced Water (Include Form RPD-41221)
03. Credit for Welfare-to-Work Program (Include certification from DOL)
08. Job Mentorship Tax Credit (Include Form RPD-41281)
04. Rural Job Tax Credit (Include Form RPD-41243)
09. Land Conservation Incentives Credit (Include Form RPD-41282)
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