Form Pit-X - Amended New Mexico Personal Income Tax Return Preparation Instructions (Page 2 of 4) in pdf

In column A, enter the amounts from your

Please note that any change you make to

reported on Line 5, column C. If you cal-

return as originally filed or as you later

your federal adjusted gross income can

culate your tax using Form PIT-B to allo-

amended it. If your return was changed

cause other amounts to increase or de-

cate and apportion your income, attach

or audited by the Department, enter the

crease. For example, an increase in your

the Form PIT-B to the Form PIT-X. In-

adjusted amounts.

federal adjusted gross income will also

clude on Line 6 any additional tax from a

increase your modified gross income for

lump-sum distribution.

In column B, enter the net increase or net

rebate and credit purposes, and reduce

decrease for each line you are changing.

the amount of credit to which you are en-

LINE 7

Show all decreases in parentheses “( )”.

titled. You should refigure these types of

Explain each change in Part II on page 2

items when you change your federal ad-

Non-refundable credits include the credit

of the form and attach any schedule or

justed gross income.

for tax paid to other states by New Mexico

form relating to the change. For example,

residents, the cultural properties preser-

if you are amending your 1996 Form PIT-

Correcting Your Wages. If you are cor-

vation credit, and the qualified business

1 to claim a refundable rebate or credit,

recting wages or other employee com-

facility rehabilitation credit.

attach Schedule PIT-RC. If you need

pensation, attach the state copy of all

more space, show the required informa-

additional or corrected Forms W-2 you

If you are changing any of these non-re-

tion on an attached statement. DO NOT

received after you filed your original re-

fundable credits, attach the appropriate

attach items unless required to do so.

turn.

workpapers or credit claim forms.

For column C, add the increase in col-

Changes to Your Medical Care Savings

LINES 9 Through 15

umn B to the amount in column A OR

Account or Your Education Trust Board

subtract the column B decrease from

Account. If you are changing the adjust-

Enter on the applicable lines your pay-

column A. For any item you do not

ment to your federal adjusted gross in-

ments, credits and rebates as shown on

change, enter the amount from column A

come because of a change in either your

your original return, or as it was last ad-

in column C.

Medical Care Savings Account or your

justed.

Education Trust Board Account, write in

EXAMPLE: Frieda Forgetful originally

Part II of the Form PIT-X which account

Line 9. If you change New Mexico income

reported $12,500 as her federal adjusted

you are changing and the increase or de-

tax withheld, remember to attach the state

gross income on her 1996 Form PIT-1.

crease. NOTE: Medical Care Savings

copy of all additional or corrected Forms

She received another Form W-2 for $625

Accounts were authorized in 1995 and

W-2, 1099-R, etc. you received after you

after she filed her return on April 14. Ms.

Education Trust Board Accounts were

filed your original return. Enter in column

Forgetful would complete line 1 of Form

authorized in 1997.

B any additional amounts shown on these

PIT-X as follows:

forms as New Mexico state income tax

LINE 2

withheld.

Col. A

Col. B

Col. C

Enter your New Mexico adjustments to

Line 10. Use this line to report estimated

Line 1

$12,500

$625

$13,125

income from your personal income tax

payments made for 1997 and later years

return form for the year you are amend-

and any tentative payments or pre-pay-

Ms. Forgetful would also report any addi-

ing.

ments made for the 1996, 1995 or 1994

tional income tax withheld on Line 9 in

taxable year.

column B.

LINE 4

Line 11. The credit for prescription drugs

LINES 1 Through 26

Enter your New Mexico deductions from

is available only to New Mexico residents

base income from the personal income

for tax years 1994 forward. Refer to the

If you are changing only taxes or non-re-

tax return form for the year you are amend-

instructions for the proper year for the

fundable credits, skip Lines 1 through 5

ing.

worksheet to calculate the allowable

and start with Line 6.

credit.

If you are changing the number of exemp-

If you are changing only payments or re-

tions you claimed on your federal income

Line 12. Refundable rebates and credits

fundable credits, skip Lines 1 through 8

tax return, or if you are changing the num-

include the low income comprehensive

and start with Line 9.

ber of qualifying dependents you claimed

tax rebate, the property tax rebate for those

for New Mexico rebate or credit purposes,

65 and over, and the child care credit. If

If you are only providing additional infor-

complete Part I on page 2 of the Form

you have made any change to your New

mation and there are no changes to the

PIT-X.

Mexico taxable income on Line 5, or your

amounts you originally reported, or as last

qualifying dependents for rebate and

adjusted, skip Lines 1 through 26 and

LINE 6

credit purposes in Part I on page 2, you

complete Part II.

must refigure your allowable refundable

Enter your income tax before subtracting

credits and rebates. Instructions and re-

LINE 1

any credits, rebates or payments. Put an

bate schedules can be found in the in-

“X” in the appropriate box on Line 6 to

come tax packet for the year you are

Enter the federal adjusted gross income

show the method you used to figure the

amending.

you reported on your New Mexico per-

tax shown in column C.

sonal income tax return.

Line 14. Enter the amount of tax you paid

Figure the tax on the taxable income you

from the “Amount You Owe” line on your

original return. Also, include any addi-

PIT-X

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Form Pit-X - Amended New Mexico Personal Income Tax Return Preparation Instructions Page 2

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