Form Fid-1 - New Mexico Fiduciary Income Tax Return - 2007 Page 3
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42007 NEW MEXICO FID-B schedule 1
COMPUTATION OF NEW MEXICO PERCENTAGE
Name of estate or trust as shown on page 1 of Form FID-1
Federal EIN of estate or trust
ThIs sChEDUlE MUsT BE COMplETED BY EsTATEs OR TRUsTs hAvING INCOME FROM BOTh INsIDE AND OUTsIDE NEW MEXICO.
NOTE: The separate accounting method may not be used by a business in New Mexico.
Column 2
Column 1
Column 4
Column 3
less related expenses/
gross
allocation to New Mexico
net
distributions
1
1.
Dividends .............................................................................
2
2.
Interest (Include non-New Mexico municipal bond interest)
3.
Income from other fiduciaries, S corporations, partner-
3
ships and limited liability entities .........................................
4
4.
Rents and royalties ..............................................................
5
5.
Profit or loss from the sale or exchange of assets ..............
6.
Net operating loss carryover (Enter as positive amount)
6
(from FID-1, page 2, line 4) .................................................
7.
Net business and farm income (Complete Form FID-B,
7
Schedule 2) .........................................................................
8
8.
Other income (Attach schedule) ..........................................
9
9.
Total of lines 1 through 8 .....................................................
9a. Calculate allocation percentage for deductions (Divide
line 9, column 4 by line 9, column 3. Resulting fraction is
.
%
9a
used to calculate column 4, lines 10-12) ..............................................................................................
10
10. Deduction for exemption .....................................................................................................................
11
11. Deduction for distributions not shown above .......................................................................................
12
12. Other deductions (Attach schedule) ....................................................................................................
13
13. Total of lines 10 through 12 .................................................................................................................
14
14. Taxable income of estate or trust (Subtract line 13 from line 9) ..........................................................
15
15. Income from lump-sum distributions (Attach federal Form 4972) .......................................................
16
16. Total income (Add lines 14 and 15) .....................................................................................................
17. New Mexico percentage of income (Divide line 16, column 4 by line 16, column 3). Calculate to two
.
%
17
decimal places (Example: 22.46%). Enter here and on line 6 of FID-1 .................................................................................
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