Instructions Draft For Pit-1 - New Mexico Personal Income Tax Return - 2013 Page 39
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44INSTRUCTIONS FOR 2013 PIT-ADJ, SCHEDULE
OF ADDITIONS AND DEDUCTIONS/EXEMPTIONS
GENERAL INFORMATION
Deductions/Exemptions from
• Line 20. Taxable refunds, credits,
If you are required to make certain ad-
Federal Adjusted Gross Income
or offsets of state and local income
ditions to your federal adjusted gross
You can claim the following deductions
taxes included from your federal
DRAFT 1.1
income, or to take certain deductions
or exemptions to your federal adjusted
adjusted gross income (Form 1040,
and exemptions from your federal ad-
gross income with Schedule PIT-ADJ:
line 10).
justed gross income to arrive at New
• Line 6. New Mexico tax-exempt
Each deduction and exemption is de-
Mexico taxable income, use this 2013
interest or dividend income.
scribed in detail later in these instruc-
Schedule PIT-ADJ.
• Line 7. A New Mexico net operating
tions. To claim any of these deductions
9/6/2013
loss to carry forward.
or exemptions, you must file Schedule
If any of the additions or any of the
PIT-ADJ.
• Line 8. Interest on U.S. government
deductions or exemptions apply to you,
______________________________
obligations.
complete this schedule and attach it
to your PIT-1 return. If the additions,
• Line 9. Railroad retirement income
PREPARING YOUR SCHEDULE
deductions, or exemptions on this
or Railroad Unemployment Insur-
PIT-ADJ
schedule do not apply to you, DO NOT
ance Act sick pay not taxable by
Follow these steps to prepare and
complete this schedule and do not at-
New Mexico.
complete the Schedule PIT-ADJ.
tach it to the PIT-1 return.
• Line 10. If you, your spouse, or
both are members of an Indian na-
1. In the PIT-1 return instructions, page
NOTE: Do not add any amounts to
tion, tribe, or pueblo, income wholly
18, read Filling in Your Tax Return.
Schedule PIT-ADJ that are not listed
earned on the lands of the reserva-
on this schedule. If an item is not listed,
tion or pueblo of membership while
2. Make sure you have all the neces-
it is not a valid New Mexico addition,
the member was domiciled on that
sary records, approvals, and certifica-
exemption, or deduction for this sched-
land, reservation, or pueblo.
tions.
ule. Do not submit a statement instead
• Line 11. If you, your spouse, or
of this schedule. The Department does
both are age 100 or over, and not
3. On the 2013 Schedule PIT-ADJ,
not accept statements instead of the
dependents of another taxpayer.
enter the primary taxpayer’s name
Schedule PIT-ADJ.
• Line 12. If you, your spouse, or both
and social security number from lines
are age 65 or over or blind, and
1a and 1b of your PIT-1 return. Make
Additions to Federal Adjusted
adjusted gross income is not over
sure the name and number are correct
Gross Income
$51,000 for a joint return; $28,500
and readable.
You are required to report the follow-
for a single taxpayer; or $25,500 for
ing additions to your federal adjusted
married taxpayers filing separately.
4. Using the detailed instructions for
gross income with Schedule PIT-ADJ:
• Line 13. Federally taxable contri-
each line on the next pages, complete
• Line 1. Interest and dividends from
butions to or distributions from a
the 2013 Schedule PIT-ADJ.
federal tax-exempt bonds.
New Mexico Medical Care Savings
• Line 2. A net operating loss.
Account.
5. Double-check the figures on your
2013 Schedule PIT-ADJ. Be sure your
• Line 14. Contributions to a New
• Line 3. Contributions refunded
arithmetic is correct and make sure all
Mexico-approved Section 529 col-
when closing or certain contribu-
entries are complete and correct.
lege savings plan.
tions rolled out of a New Mexico-
approved Section 529 college
• Line 15. Net capital gains.
6. If line 11 is applicable, make sure
savings plan account.
• Line 16. Military pay, wages, or sal-
you correctly marked the boxes.
•
Line 4. A charitable deduction
ary from active duty service.
claimed on federal Form 1040,
• Line 17. If you, your spouse, or both
7. Transfer the total on line 5 of this
Schedule A, for a donation of
are age 65 or over, unreimbursed
schedule to PIT-1, line 11.
land to private non-profit or public
or uncompensated medical care
conservation agencies for conser-
expenses of $28,000 or more for
8. Transfer the total on line 21 of this
vation purposes from which you
yourself, your spouse, or depen-
schedule to PIT-1, line 15.
were allowed the New Mexico land
dents.
conservation tax credit.
• Line 18. Expenses related to do-
9. Attach your completed PIT-ADJ to
nating human organs to another
your PIT-1 return.
Each addition is described in detail
person.
later in these instructions. To claim
• Line 19. Reimbursement from
any of these additions, you must file
the New Mexico National Guard
Schedule PIT-ADJ.
Service Member’s Life Insurance
Reimbursement Fund.
PIT-ADJ
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