Form Rpd-41369 - New Mexico Net Operating Loss Carryforward Schedule

Form Rpd-41369 - New Mexico Net Operating Loss Carryforward Schedule - 2012 Page 3

State of New Mexico - Taxation and Revenue Department

RPD-41369

2012 New Mexico Net Operating Loss Carryforward Schedule

Rev. 06/01/2012

Instructions - Page 2 of 3

Worksheet 1, for Column 2 of the Carryforward Schedule.

Computing the NM NOL incurred in prior years.

Line 1. Federal NOL as defined by Section 172(c) of the Internal Revenue Service for the tax year of the loss.

Line 2. Interest received on U.S. Government obligations less related expenses and reported on the New Mexico

tax return for the tax year. This amount is reported on Schedule PIT-ADJ, in the tax year of the loss.

Line 3. Enter the sum of lines 1 and 2. This is the NM NOL loss incurred in the year of the loss to be reported in

column 2 of the Carryforward Schedule.

Worksheet 2, for Columns 3 and 4 of the Carryforward Schedule.

Computing the net income before NM NOL is applied and the loss used

in the current tax year.

From the 2012 PIT-1:

Enter the federal adjusted gross income, reported on Form 2012 PIT-1, line 9.

Enter the amount of state and local income or general sales tax deduction reported on Form

2012 PIT-1, line 10.

Enter the additions to federal income from Form 2012 PIT-1, line 11.

Enter the itemized or standard deduction amount reported on Form 2012 PIT-1, line 12.

Enter the federal exemption amount reported on Form 2012 PIT-1, line 13.

Enter the taxable refunds, credits or offsets of state and local income taxes, reported on Schedule

2012 PIT-ADJ, line 20.

Enter the sum of lines 1, 2 and 3, less the sum of lines 4 through 6, but not below zero. This is the

net income before the NM NOL is applied. Enter in Column 3.

Enter the sum of prior year NM NOL carryforward available.

Enter the lesser of lines 7 and 8. This is the excludable New Mexico NOL carryforward amount.

Also enter this amount in line 1, at the bottom of Column 4.

Form Rpd-41369 - New Mexico Net Operating Loss Carryforward Schedule - 2012 Page 3