Form Rpd-41369 - New Mexico Net Operating Loss Carryforward Schedule - 2012 Page 4

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State of New Mexico - Taxation and Revenue Department
RPD-41369
2012 New Mexico Net Operating Loss Carryforward Schedule
Rev. 06/01/2012
Instructions - Page 3 of 3
Example:
In tax year 2012, taxpayer X has tax due and wishes to carryforward it’s prior-year losses to offset the income on the 2012 personal income tax return. X incurred a
NM NOL in 2007 in the amount of $48,000, and in tax year 2008 in the amount of $97,000. In tax years 2009, 2010 and 2011, X computed its current year net income
before NM NOL is applied, to be $7,000, $1,500 and $2,500, respectively. X used the NM NOL incurred in tax year 2007 towards the net income for tax years 2009,
2010 and 2011. For the current tax year 2012, X computes the net taxable income before NM NOL to be $8,000. X may use the loss incurred in 2007 towards the
2012 net income. X cannot carryforward the balance of the 2007 NM NOL for more than 5 years, so Column 6 reports the amount of NM NOL that expires during
2012, and may not be excluded from NM net income during 2013. X completes Form RPD-41369, as follows:
Col. 1
Col. 2
Col. 3
Col. 4
Col. 5
Col. 6
Col. 7
Tax Year
Net operating
2012 NM
2012
If the NM NOL reported in Col. 2 was used in previous years,
NM NOL
NM NOL
loss incurred
net income before
Loss used
enter the amount in the column corresponding
Expired
Carryforward
(in the year in
NM NOL
to the year in which the NM NOL was used.
(The sum of Col. 4
available for
Column 1)
(From Worksheet 2,
cannot be greater
next year
line 7)
than Col. 3 for
2011
2010
2009
2008
2007
2006
2005
tax year 2012.)
8,000
2012
2008
97,000
97,000
2,500
29,000
2007
48,000
8,000
1,500
7,000
0
Line 1 must equal line 9 from Worksheet 2.
Line 1. Loss used during 2012 tax year.
8,000
Also enter this amount on Schedule PIT-ADJ, line 7.
Enter the sum of Column 4.

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