Form Fid-1 - New Mexico Fiduciary Income Tax Return - 2014 Page 3
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4*148180200*
2014 FID-B Schedule 1
COMPUTATION OF NEW MEXICO PERCENTAGE
FEIN of estate or trust
Name of estate or trust as shown on Form FID-1, page 1
ESTATES OR TRUSTS WITH INCOME FROM BOTH INSIDE AND OUTSIDE NEW MEXICO MUST COMPLETE THIS SCHEDULE.
The separate accounting method may not be used by a business in New Mexico.
NOTE:
Column 2
Column 1
Column 3
Column 4
Less related expenses/
Net
Allocation to New Mexico
distributions
Gross
1
1. Dividends ..........................................
2. Interest, including non-New Mexico
municipal bond interest .....................
2
3. Income from other fiduciaries,
S corporations, partnerships, and
3
limited liability entities ............ ..........
4
4. Rents and royalties ...........................
5. Profit or loss from the sale or
5
exchange of assets...........................
6. Net business and farm income.
Complete Form FID-B Schedule
2. See instructions. ...........................
6
7
7. Other income. Attach schedule ........
8. Total of lines 1 through 7.................
8
8a. Calculate allocation percentage for deductions.
Divide line 8, column 4 by line 8, column 3.........................................................................................................................
%
8a
For lines 9, 10, and 11, multiply the amount in Column 3 by the percentage in line 8a to get the allocation to New Mexico in Column 4.
9. Deduction for exemption ................................................................................................
9
10
10. Deduction for distributions not shown above ...................................................................
+
11
11. Other deductions. Attach schedule ..................................................................................
+
12
12. Total of lines 9, 10, and 11 ...............................................................................................
=
13. Taxable income of estate or trust. Subtract line 12 from line 8 ........................................
13
14. Income from lump-sum distributions. Attach federal Form 4972 .....................................
14
+
15
15. Total income. Add lines 13 and 14..................................................................................
=
1 6. New Mexico percentage of income. Divide line 15, column 4 by line 15, column 3.
1 6
%
Calculate to two decimal places; for example, 22.46%. Enter here and on FID-1, page 1, line 6.....................................
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