Form Pit-Rc - New Mexico Rebate And Credit Shedule

*120390200*

2012 PIT-RC

(page 2)

NEW MEXICO REBATE AND CREDIT SCHEDULE

YOUR SOCIAL SECURITY NUMBER

SECTION II:

LOW INCOME COMPREHENSIVE TAX REBATE

(If line 13 is MORE than $22,000, DO NOT complete this section.)

13. Enter Modified Gross Income from line 12. .....................................................................................................................

a. Enter total exemptions from line 3. ............................................................................................................................

13a

14. Low Income Comprehensive Tax Rebate: On table 1 in the instructions, find the Modified Gross Income range

that includes the amount on line 13, then move across to the column that matches the number of exemptions on

line 13a. (Married couples filing separately must divide result by two.) ........................................................................

SECTION III:

FOR PERSONS 65 OR OLDER - PROPERTY TAX REBATE

(If line 13 is more than $16,000, DO NOT complete this section.)

15. PROPERTY OWNED - Tax billed for the calendar year on principal place of residence. ...............................................

16. PROPERTY RENTED

a. Amount of rent paid during the tax year for principal place of residence. .................................................................

16a

b. Check if the amount entered on line 16a includes rent paid on your behalf by a government entity........

16b

c. Multiply line 16a by .06 and enter the amount here. ..........................................................................................................

16c

17. REBATE AMOUNT

a. Add lines 15 and 16c and enter the total here. .........................................................................................................

17a

b. Find the Modified Gross Income range, table 2 in the instructions, that corresponds to the amount on line 13.

Read across the table to the column showing your maximum property tax liability and enter amount here. ............

17b

c. Property Tax Rebate: Subtract line 17b from 17a.

Do not enter more than $250, or more than $125 if Married Filing Separately.

17c

................................................................

You must indicate the county

ADDITIONAL LOW INCOME PROPERTY TAX REBATE for Los Alamos or Santa Fe County

SECTION IV:

Los Alamos County

18.LA

residents only. (If line 13 is over $24,000, DO NOT complete this section.)

Santa Fe County

18.SF

18. REBATE AMOUNT

a. PROPERTY OWNED only. - Tax billed for the calendar year on principal place of residence. .................................

18a

b. Find the Modified Gross Income range, table 3 in the instructions, that corresponds to the amount on line 13,

above. Read across the table to the column showing your property tax rebate percentage and enter here. ...........

18b

c . Multiply line 18a by line 18b and enter here.

Do not enter more than $350 or $175 if Married Filing Separately. ...........................................................................

18c

NEW MEXICO CHILD DAY CARE CREDIT (If Modified Gross Income on line 13 is $30,160

SECTION V:

or less, use the worksheet in the instructions for the 2012 PIT-RC Schedule to figure your available Child

Day Care Credit. Attach the worksheet and Forms PIT-CG.)

19. Enter either the total of Column G or $1,200, WHICHEVER IS LESS. ...........................................................................

20. Number of qualified dependents under age 15 receiving child day care.........................................................................

21. Enter portion of Federal Child Care Credit applied against your federal tax from Form 1040 or 1040A.........................

22. New Mexico child day care credit: Subtract line 21 from line 19.

(Married couples filing separately must divide result by two.)........................................................................................

SECTION VI:

REFUNDABLE TAX CREDITS

23. Refundable medical care credit for persons 65 or older. (See PIT-RC instructions)....................................................

24. Special needs adopted child tax credit...........................................................................................................................

25. Renewable energy production tax credit. (Attach Form RPD-41227)...........................................................................

26. Refundable portion of the film production tax credit. (Attach Form RPD-41228) ..........................................................

SECTION VII:

TOTAL REBATES AND CREDITS CLAIMED

27. Add lines 14, 17c, 18c, 22, 23, 24, 25 and 26. Enter here and on line 24 of Form PIT-1..............................................