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QUICK REFERENCE INSTRUCTIONS
PIT-EZ FOR 2020 PIT-1
GENERAL INFORMATION required fields blank.
The Quick Reference Instructions (PIT-EZ) for the New • Leave blank all spaces and boxes that do not apply to
Mexico Personal Income Tax Return (PIT-1) is a summary you.
to help you complete your PIT-1 faster. It is not intended to • Type or print using blue or black ink. Do not use a pen-
replace the full set of instructions. cil.
• Round all numbers and enter only whole dollar amounts.
Depending on your tax situation and your understanding For example, enter $10.49 as $10 and $10.50 as $11.
of the New Mexico tax laws, you may want to read the full • Write numbers clearly and legibly.
instructions for some items. What to Know and Do Before • To show a loss, place a minus sign (-) immediately to
You Begin gives a good overview and begins on PIT-1, page the left of the loss amount. Do not use brackets or pa-
17. Detailed line instructions begin on PIT-1 instructions, rentheses.
page 20.
For details, see Important Guidelines on PIT-1 instructions,
Who Must File the PIT-1 Return page 20.
New Mexico’s law says every person with income from New
Mexico sources required to file a federal income tax return TOP OF PAGE 1
must file a New Mexico PIT-1. Complete the top of page 1 of the PIT-1. If you are filing for
a fiscal year, enter the month, day, and year your tax year
This includes non-residents with income from every New began and the month, day, and year it ended.
Mexico source, including wages, rents, royalties, businesses,
and estates. Even foreign nationals and people who reside LINES 1 AND 2. Name and Social Security Number
in states that do not have income taxes must file in New Clearly enter your name and social security number (SSN)
Mexico when they have income from any New Mexico source and if applicable, the name and SSN of your spouse in ex-
whatsoever and are required to file a federal return. actly the same order as on your federal return. Even if you
are married filing separately, your spouse’s SSN is required. New Mexico Personal Income Tax (PIT) Return
IMPORTANT: The tax year on your PIT-1 must match the
tax year of your federal return. Do not file short year returns No Social Security Number?
unless allowed by the Internal Revenue Code. If you or your spouse do not have an SSN, you may be
eligible for a federal Individual Taxpayer Identification Num-
If you are a resident of New Mexico, you also must file a New ber (ITIN) from the IRS. For details about the ITIN and its
Mexico return if any of the following are true: requirements, see PIT-1 instructions, page 18.
• You want to claim a refund of any New Mexico state
income tax withheld from your pay. Make sure all names and SSNs or ITINs are legible, complete,
and correct.
• You want to claim any New Mexico rebates or credits.
Blind and 65 Years of Age or Older
GETTING STARTED If you or your spouse (if applicable) are blind for federal
Follow these steps before you start filling out your PIT-1:
income tax purposes or age 65 years or older, mark inX
1. Prepare your federal return. Even if you are not required the boxes.
to file a federal return, it is easier to complete the PIT-1
after you fill out a sample federal return. Much of the NOTE: The Taxation and Revenue Department may request
information requested on the PIT-1 is the same. proof at a later date that you or your spouse, if applicable,
2. Find out what other forms and schedules you are are blind for federal purposes. Do not attach the proof to
required to file. This depends on your residency status your return.
and your personal situation.
Residency Status and Date of Birth
For a description of the various forms you may need, see Enter R, N, ,For toPindicate your residency status and, if
Required Forms and Attachments in the full PIT-1 instruc- applicable, your spouse’s residency status. Use Rfor resi-
tions on page 9. If you are claiming credits, seeAttachments dent, Nfor non-resident, F for first-year resident, and P for
Required to Claim Credits on page 10. part-year resident. For more information, see PIT-1 instruc-
tions, pages 3-5 and 20-21.
IMPORTANT: Submit only the original, official PIT-1 and
schedules. Enter date of birth in MM/DD/CCYY format. For example, if
birth date was on July 20, 1952, enter 07/20/1952.
FILLING IN YOUR RETURN
Follow these guidelines to complete your PIT-1: LINE 3. Address
• Complete all required information. Do not leave any Mark box 3a if your address on the PIT-1 has changed since

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your last filing. In 3b, clearly enter your address. Make sure pendents, and your qualifying other dependents.
your address is legible, complete, and correct.
See Form 1040 or 1040SR Instructions for definitions for
If you have a foreign address, enter the street address, city 2020.
name and postal code in the appropriate line. Also complete
the spaces for the foreign province and/or state and country. IMPORTANT: If you, or your spouse, if married filing jointly,
Follow the country’s practice for entering the foreign postal qualify as an other dependent of another individual for fed-
code, the province or state, and country. Do not abbreviate eral income tax purposes, whether or not you or your spouse
the country name. were claimed as an other dependent on the other person’s
federal return, exclude that spouse from the total in line 5.
LINE 4. Deceased Taxpayer or Spouse and Any Claimant
To determine the amount to enter on line 5, complete the
If the refund must be made payable to a person other than
Worksheet for Computing the Amount on Line 5 of the PIT-1
the taxpayer or spouse, on line 4a enter the claimant’s name
Return.
and on line 4b enter the claimant’s SSN.
LINE 6. Extension of Time to File
If the taxpayer or the spouse named on the return died be-
If you have a federal or New Mexico extension of time to file,
fore you file this return, on lines 4c and 4d, enter the date of
mark Xin box 6a and enter the date the extension expires
death in MM/DD/CCYY format. For example, if the date of
in 6b.
death was on June 13, 2020, enter 06/13/2020.
If the federal extension was automatic, or if you received
If requesting the refund to be made payable to a person other
approval for a New Mexico extension, donot attach a copy
than the taxpayer or to the estate of the taxpayer, you must
of the extension request to your PIT-1. It is not necessary
attach both of the following to the taxpayer’s refund claim:
in this case.
• Form RPD-41083, Affidavit to Obtain Refund of New
Mexico Tax Due a Deceased Taxpayer; and LINE 7. Filing Status
• A copy of the death certificate or other proof of death. Show your filing status by marking X in the correct box. Use
the same filing status on your state return that you used on
For more information, see Representatives of Deceased your federal return. If you did not file a federal return, use
Taxpayers on PIT-1 instructions, page 5. the filing status you would have used for federal income tax
purposes.
Worksheet for Computing the Amount on Line 5
of the PIT-1 Return Requirements for Items 3 and 4
If you mark inX item 3, Married filing separately, your
3. Yourself. Enter “1”
spouse’s name and SSN are required on lines 2a and 2b.

4. Spouse. Enter “1”, If you mark Xin item 4, Head of Household , on the line
5. if applicable. below item 4, enter the name of the person who qualifies
you as head of household if that person is a child and not
6. Enter total number of depen- eligible to be included as a qualified dependent under federal
dents and other dependent regulations.
as reported on your federal
return.
LINE 8. Dependents and Other Dependents
7. Total. Add lines 1, 2, and 3. Enter the name, SSN, and date of birth of each dependent
Enter here and on line 5. you reported on your federal return. If you have more than
five qualifying dependents and other dependents, use Sched-
ule PIT-S to enter your additional dependents.
LINE 5. Exemptions
Deduction amounts for personal exemptions are suspended IMPORTANT: Only file Schedule PIT-S if you filled in the five
for tax years 2019 through 2025 by the Federal Tax Cuts dependent lines on PIT-1, line 8, and you need additional
and Jobs Act. lines for more than five qualifying dependents.

New Mexico uses the same definitions and qualifications To enter the dependent’s date of birth, use MM/DD/CCYY
pursuant to Section 151 of the Internal Revenue Code to format. For example, if your daughter was born April 16,
determine exemption amounts and whether someone is your 2012, enter 04/16/2012. For details about dependents, see
dependent or other dependent. PIT-1 instructions, page 22.

Eligibility remains important for determining who may claim LINE 9. Federal Adjusted Gross Income
credits and other tax benefits on PIT-1 and other required Enter the federal adjusted gross income as reported on your
forms and attachments. The total in this line item will include federal Form 1040 or 1040SR, line 8b.
you, your spouse if filing a joint return, your qualifying de-
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LINE 10. Itemized State and Local Tax Deduction pursuant to Section 151 of the Internal Revenue Code is zero
If you itemized deductions on your 2020 federal income tax (0), a taxpayer who is not a dependent of another individual
return, on your PIT-1 Return you must add back all or part and files a return as a head of household or married filing
of the amount shown for Taxes You Paid (state and local) jointly may claim a deduction from net income in an amount
on federal Schedule A, line 5a. of $4000 for certain dependents.

To determine the amount to enter on line 10, go to page 23 of To calculate the deduction for PIT-1, line 13, use Worksheet
the PIT-1 instructions and complete the Line 10. Worksheet for Calculating Deduction for Certain Dependents on of PIT-1
for Computing the Amount on Line 10 of the PIT-1 Return. instructions, page 24.

LINE 11. Total Additions to Federal Adjusted Gross Income LINE 14. New Mexico Low- and Middle-Income Tax Ex-
If you completed Schedule PIT-ADJ, lines 1 to 5, enter the emption
Total Additions from PIT-ADJ, line 5. A New Mexico income tax exemption is allowed for low- and
middle-income taxpayers. All taxpayers, including residents,
If you have any of the following additions to federal adjusted part-year residents, first-year residents, and non-residents
gross income, file PIT-ADJ: may claim this exemption in full.
• Interest and dividends from federal tax-exempt bonds;
• A federal net operating loss carryover; The maximum is $2,500 for each qualified household mem-
ber reported on federal Form 1040 or 1040SR, and PIT-1, line
• Contributions refunded when closing a New Mexico
5 for income tax purposes. The amount varies according
approved Section 529 college savings plan account*;
to filing status and adjusted gross income.
• Certain contributions rolled out of a New Mexico
approved Section 529 college savings plan account*, or
To claim the exemption, the amount on PIT-1, line 9 must be
• A charitable deduction claimed on federal Schedule equal to or less than any of the following:
A for a donation of land to private non-profit or public
conservation agencies for conservation purposes • $36,667 (if single)
from which you were allowed the New Mexico land • $27,500 (if married filing separately)
conservation tax credit. • $55,000 (if married filing jointly, qualified widow(er), or
head of household)
* These should only be added back if the taxpayer took
the contribution as a deduction on a prior year tax To calculate the exemption, use New Mexico Low- and
return. Middle-Income Tax Exemption Worksheet on PIT-1 instruc-
tions, page 25.
For information about calculating the additions, see PIT-ADJ
instructions for lines 1 to 5. LINE 15. Total Deductions and Exemptions from Federal
Income
LINE 12. Federal Standard or Itemized Deduction Amount If you completed Schedule PIT-ADJ, lines 6 to 22, on PIT-1,
If you did not itemize deductions on your 2020 federal return, line 15, enter the Total Deductions and Exemptions from
enter the allowable federal standard deduction from federal PIT-ADJ, line 22.
Form 1040 or 1040SR, line 9.
You are must complete and attach Schedule PIT-ADJ if any
If you itemized deductions on your 2020 federal Form 1040 of the following are true:
or 1040SR, do the following: • You have interest and dividend income on New Mexico
• Enter the allowable federal itemized deductions you re- state and local bonds.
ported on Form 1040 or 1040SR, line 9. • You have a New Mexico net operating loss carryover.
• Mark box 12a. • You have interest income from U.S. Government obliga-
tions.
Charitable Deduction of Land
• You have Railroad Retirement income not taxable by
If you claim a charitable deduction in your federal itemized
New Mexico.
deductions on federal Schedule A, for a donation of land to
• You have Railroad Unemployment Insurance Act sick
private non-profit or public conservation agencies for con-
pay.
servation purposes from which you were approved for the
New Mexico land conservation tax credit, you must add back • You, your spouse, or both are members of an Indian na-
the charitable deduction amount included in your itemized tion, tribe, or pueblo and your income was wholly earned
deductions on federal Schedule A. To determine the amount on the lands of the reservation or pueblo of which the
of the charitable deduction to add back, see the Schedule individual is an enrolled member while domiciled on that
PIT-ADJ, line 4 line instructions. land, reservation, tribe, or pueblo.
• You, your spouse, or both are age 100 or over and you
LINE 13. Deduction for Certain Dependents are not dependents of another taxpayer.
Beginning tax year 2020, as long as the exemption amount • You, your spouse, or both are age 65 or over or blind,
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and your adjusted gross income is not over $51,000 for a Non-Residents Using Gross Royalty Income
joint return; $28,500 for a single taxpayer; or $25,500 for If you are a non-resident and you elect to calculate tax on
married taxpayers filing separately. gross royalty income under $5,000 using special procedures,
• You have federally taxable contribution to or distributions enter your gross royalty income from New Mexico sources.
from a New Mexico Medical Care Savings account. Also see Non-Residents and Royalty Income on PIT-1 instruc-
• You contribute to a New Mexico-approved Section 529 tions, page 5.
college savings plan.
LINE 18. New Mexico Tax
• You have net capital gains for which you can claim a de-
Unless you qualify for Schedule CC, calculate your New
duction of up to $1,000 or 40% of your net capital gains,
Mexico tax by using one of these methods and then com-
whichever is greater.
plete line 18a:
• You have United States armed forces wages or salary
from active duty service. • If you have income from sources inside and outside New
• You, your spouse, or both are age 65 or over, and you Mexico, use your entry on PIT-B, line 14 or;
have unreimbursed or uncompensated medical care ex- • Use the rate tables from the full PIT-1 instructions, start-
penses of $28,000 or more for yourself, your spouse, or ing on page 1T.
dependents.
• You, your spouse, or dependents have expenses related IMPORTANT: When calculating your tax using the rate tables,
to donating human organs for transfer to another person. make sure to use the taxable income amount on line 17.
• You received a reimbursement from the New Mexico Na-
tional Guard servicemember’s life insurance reimburse- Alternative Tax Schedule CC
ment fund. If you qualify to file Schedule CC, Alternative Tax Schedule,
• You were required to include, in your federal adjusted enter on line 18 only the amount from Schedule CC, line 3.
gross income, taxable refunds, credits, or offsets of state
and local income tax (federal Schedule 1, line 1). You qualify to file Schedule CC if you meet all the following
• You are a non-resident United States Public Health Ser- requirements:
vice (USPHS) servicemember, and you earned income in • You have no business activities in New Mexico other than
New Mexico for USPHS active duty pay. sales.
• You do not own or rent real estate in New Mexico, and
For information about calculating total deductions and exemp-
• You have annual gross sales in or into New Mexico of
tions, see the PIT-ADJ instructions for lines 6 to 21.
$100,000 or less.

LINE 16. Medical Care Expense Deduction Line 18a. Rate Table Indicator
If you file a New Mexico PIT-1, you may claim a deduction In the box on line 18a, enter Ror toBshow the source for
for medical care expenses paid during the tax year for medi- calculating your tax:
cal care for you, your spouse, or a dependent. Eligible filers
include out-of-state residents with income tax responsibility • R = rate tables
to New Mexico. • B = Schedule PIT-B

To determine the deduction amount to enter on PIT-1, line NOTE: If you are a non-resident and elect to compute tax
on gross royalty income less than $5,000, enter for gross
16, use Worksheet for Calculating Medical Care Expense Y
royalty income. See Non-Residents Using Gross Royalty
Deduction and the instructions beginning on PIT-1 instruc-
Income earlier on this page.
tions, page 26.
IMPORTANT: You must complete both lines 16 and 16a. If LINE 19. Additional Amount for Tax on Lump-Sum Dis-
either are incomplete, the Department denies your deduction. tributions
If you received a lump-sum payment and you are using the
special federal 10-year tax option on federal Form 4972,
LINE 16a.Unreimbursed and Uncompensated Medical
you are eligible to use New Mexico’s averaging method. To
Care Expenses
calculate your New Mexico averaged tax, use Worksheet
Enter the qualifying unreimbursed and uncompensated
for Calculating Tax on Lump-Sum Distributions on PIT-1
medical care expenses you used to calculate your medical
instructions, page 28.
care expense deduction on PIT-1, line 16.
If you did not use the federal averaging methods available
To determine qualifying expenses, see the line 16 instructions
on federal Form 4972, you are not eligible to use the New
on page 25 of the PIT-1 instructions.
Mexico averaging method.

LINE 17. New Mexico Taxable Income If you used PIT-B to calculate New Mexico
IMPORTANT:
Add lines 9, 10, and 11, then subtract lines 12, 13, 14, 15,
tax liability on line 18, and you also used the federal special
and 16. If the result is negative, enter zero. This is your New
tax option and New Mexico averaging methods to calculate
Mexico taxable income.
tax on a lump-sum distribution on line 19, do not add line
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19 when completing PIT-1, line 22 as instructed. Instead Calculation When Using PIT-B and Claiming Additional
subtract the sum of lines 20 and 21 from the amount you Amount of Tax on Lump-Sum Distributions
entered on PIT-1, line 18. Skip line 19. Although line 22 says to add line 19, do not add line 19 if
both of the following are true:
You do not need to add PIT-1, line 19 when completing PIT-1, • For line 18, you used Schedule PIT-B to calculate your
line 22 because the New Mexico part of line 19 (lump-sum New Mexico tax liability.
distributions) is included in PIT-B, line 14 • You used the New Mexico averaging method to calcu-
late tax on a lump-sum distribution for line 19.
LINE 20. Credit for Taxes Paid to Another State
A resident of New Mexico who must pay personal income If both are true, calculate your Net New Mexico Income Tax
tax to another state on income that is also taxable in New for line 22 by following these steps:
Mexico may take a credit against New Mexico tax for tax
paid to the other state. To determine if you qualify, see PIT-1 1. Add lines 20 and 21.
instructions, page 28. 2. From the amount on line 18, subtract the result of step 1.
In this case, you do not add PIT-1, line 19 when complet-
LINE 21. Business-Related Income Tax Credits Applied ing PIT-1, line 22. The New Mexico part of line 19 (lump-
If you are eligible to claim one or more of the following sum distribution) is already included in Schedule PIT-B,
non-refundable credits, or if you are claiming any refund- line 14.
able business-related tax credits that may be applied to your
income tax due, enter the amount from PIT-CR, line A, and LINE 24. Total Claimed on Rebate and Credit Schedule
attach the completed PIT-CR to your PIT-1: If you claim any of the following special New Mexico rebates
or refundable credits, complete and attach Schedule PIT-RC
• Affordable Housing Tax Credit, to your PIT-1:
• Angel Investment Credit,
• Advanced Energy Tax Credit, • Low income comprehensive tax rebate,
• Agricultural Biomass Income Tax Credit, • Property tax rebate for low income persons 65 or older,
• Business Facility Rehabilitation Credit, • Additional low income property tax rebate for Los Ala-
• Electronic Card-Reading Equipment Tax Credit, mos or Santa Fe County residents,
• Foster Youth Employment Tax Credit • New Mexico child day care credit,
• Geothermal Ground-Coupled Heat Pump Tax Credit, • Refundable medical care credit for persons 65 or older,
• Job Mentorship Tax Credit, or
• Land Conservation Incentives Credit, • Special needs adopted child tax credit.
• Preservation of Cultural Property Credit,
• Rural Job Tax Credit, LINES 25 and 25a. Working Families Tax Credit
• Rural Health Care Practitioners Tax Credit, If you were a New Mexico resident during any part of 2020
• Solar Market Development Tax Credit, and you file a PIT-1, you may claim the working families tax
• Sustainable Building Tax Credit credit. The credit is 17% of the earned income credit (EIC)
• New Sustainable Building Tax Credit, for which you are eligible the same tax year.
• Technology Jobs and Research and Development (Ad-
ditional) Tax Credit, The EIC is a refundable federal income tax credit for low
• Veterans Employment Tax Credit income working individuals and families. The credit reduces
• Film Production Tax Credit, the amount of federal tax you may owe and may increase
• New Film Production Tax Credit, your refund from the IRS.
• New Mexico Film Partners New Film Production Tax
Credit, If you qualify for the working families tax credit, and the credit
• New Solar Market Development Tax Credit, and exceeds your income tax liability for the tax year of the claim,
• Renewable Energy Production Tax Credit. you may receive a refund.

For information about these credits, On line 25a, enter the amount of EIC you reported on your
see the instructions for PIT-CR. 2020 federal Form 1040 or 1040SR, Line 18a.

LINE 22. Net New Mexico Income Tax To find the entry for line 25, multiply the amount on line 25a
To find your net New Mexico income tax in all cases, except by 0.17 (17%).
the situation described next, do the following:
1. Add lines 18 and 19. IMPORTANT: You must complete both lines 25 and 25a.
2. Add lines 20 and 21. If either are incomplete, the Department may deny your
3. From the result of step 1, subtract the result of step 2. deduction.
This amount cannot be less than zero.
For More Information. To see all the requirements for claim-
ing the EIC, read the rules in the federal 1040 or 1040SR tax
package or see IRS Publication 596, Earned Income Credit
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(EIC). You may also read about the EIC on the IRS website • Estimated payments you made with PIT-ES payment
at www.irs.gov and download the publication from the site. vouchers;
• Your last installment, even if you pay it in 2021; and
LINE 26. Refundable Business-Related Income tax • Overpayments from your 2019 return that you applied to
credits your 2020 taxes.
Line 26 line shows the refundable amount of business-related
income tax credits you claimed on PIT-CR. From PIT-CR, Do Not Include These Payments
line B, enter the total amount of your refundable part of the Do not include any of the following payments:
following tax credits: • Extension payments you made with PIT-EXT payment
• Film Production Tax Credit, vouchers
• Renewable Energy Production Tax Credit, and • Any return payments you made with PIT-PV payment
• Technology Jobs and Research and Development (Ad- vouchers
ditional) Tax Credit. • PIT-PV or PIT-EXT payments you made through the De-
partment website.
LINE 27. New Mexico Income Tax Withheld
Except for income from oil and gas proceeds and income NOTE: Report extension and return payments on PIT-1,
from pass-through entities (covered in lines 28 and 29), line 31.
enter the total of all your other New Mexico income tax
withheld. These are shown on your annual withholding DIFFERENT NAME OR SSN
statements, including Form(s) W-2, W-2G, 1099, 1099-R, If you made any estimated payments using a different name
and 1099-MISC. Attach a copy of the forms to your PIT-1. or SSN, attach a schedule to your return showing how you
made each estimated payment.
Payments You Cannot Include
Do not include income tax withheld from your share of the net LINE 31. Other Payments
income of a pass-through entity or from oil and gas proceeds. Enter the total payments you made toward your 2020 personal
income tax liability that are not included on line 30, including:
Do not include any payment you made for gross receipts tax, • Extension payments you made with PIT-EXT payment
withholding tax, compensating tax, or any other type of tax vouchers
due to the State of New Mexico. These payments are not • Return payments you made with PIT-PV payment vouch-
payments towards your personal income tax liability. They ers
are not considered “tax withheld,” “estimated,” or “other” • PIT-PV or PIT-EXT payments you made through the De-
payments on your PIT-1. partment website.

LINE 28. New Mexico Income Tax Withheld From Oil and LINE 32. Total Payments and Credits
Gas Proceeds Add lines 24 through 31, and enter the total here.
Enter the total of all New Mexico income tax withheld from
oil and gas proceeds as shown on your annual withholding LINE 33. Tax Due
statements, 1099-MISC, and RPD-41285, Annual Statement If line 23 is greater than line 32, the difference is the amount
of Withholding of Oil and Gas Proceeds. Attach a copy of of tax you owe. Subtract line 32 from line 23, enter the dif-
the forms to your PIT-1. ference here.

LINE 29. New Mexico Income Tax Withheld From a Pass- LINE 34. Penalty on Underpayment of Estimated Tax
Through Entity This line is only for taxpayers who owe an underpayment
Enter the total New Mexico income tax withheld from the net penalty. Leave the line blank in these situations:
income of pass-through entities as shown on your annual
• You do not owe an underpayment penalty.
withholding statements, 1099-MISC, and Form RPD-41359,
• You owe an underpayment penalty and you want the
Annual Statement of Pass-Through Entity Withholding. At-
Department to calculate the penalty for you.
tach a copy of the forms to your PIT-1. An entity that has had
tax withheld cannot pass a withholding statement directly to
If you want to calculate the penalty, enter the amount of penalty
its owners, members, partners, or beneficiaries. The entity
on the underpayment of estimated tax you owe.
must first file and report the tax withheld on its New Mexico
income tax or annual information return. After filing and
For details about calculating penalty, see the instructions for
reporting the tax withheld, the entity may then pass the tax
PIT-ES,Personal Income Estimated Tax Payment Voucher.
withheld to another entity by issuing the owner, member,
partner, or beneficiary an annual withholding statement.
Department Process for Penalty Due
The Department sends you a bill or if you are due a refund,
LINE 30. 2020 Estimated Income Tax Payments
reduces your refund by the amount of the penalty due.
Enter the total of New Mexico estimated tax payments you
made for 2020 as shown in your records. Include all of the
following:

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LINE 35. Special Method Allowed for Calculation of You can handle your overpayment in any or a combination
Underpayment of Estimated Tax Penalty of the following ways:
You can use a special method if both the following are true: • You can use it for voluntary fund contributions. To do this,
• You owe penalty for underpayment of estimated person- enter the amount you wish to contribute on line 40 and
al income tax using the standard method of calculating attach Schedule D to your PIT-1. For information, see
the penalty. Schedule D, New Mexico Voluntary Contributions Sched-
• You qualify for a special penalty calculation method, ule.
which reduces the amount of penalty due • You can apply it to your 2021 estimated tax. To do this,
enter the amount on line 41.
Indicate the Special Method • You can have the Department refund your overpayment
If both are true, enter 1, 2, 3, 4, or 5 in the box on line 35 to to you. To do this, enter the amount on line 42.
indicate the method you elect to calculate your underpay-
ment penalty. To use the special penalty calculation, the WHAT TO DO BEFORE YOU MAIL YOUR RETURN
Department requires you to complete and attach Form Before you mail your return, follow these steps:
RPD-41272, 2020 Calculation of Estimated Personal Income
Tax Underpayment Penalty, to your PIT-1. 1. Check the figures on your return and on your attach-
ments. Make sure these are original, official PIT-1 and
When To Leave the Box Blank schedules.
Leave the box blank in these situations: 2. On your PIT-1 at the bottom of page 2, sign and date.
If you are married and filing a joint return, both spouses
• You do not quality for one of the special methods.
must sign.
• You do not owe estimated tax using the standard method
3. Below the signature, the taxpayer and, if married filing
of calculating the underpayment of estimated tax penalty.
joint, the spouse, is required to enter their state issued
driver’s license or state issued identification card number
LINE 36. Penalty
and a two digit state code identifying the state issuing
If you file late and owe tax, or if you do not pay the tax on
the identification number. Also enter the expiration date
or before the date your return is due, enter penalty here.
of driver’s license or state issued identification number.
These identification numbers will be used as an addi-
Calculate penalty by multiplying the unpaid amount due
tional level of verification to help protect your personal
on line 33 by 0.02 (2%). Then multiply this product by the
information from identity theft and fraudulent returns. If
number of months or partial months for which your return or
you do not have this identity, write “NONE” in this field. If
payment is late. The result cannot exceed 20% of the tax due.
the taxpayer and, if married filing joint, the spouse, do not
wish to provide a state issued driver’s license or state is-
If you want the Department to calculate the penalty for you,
sued identification card, write “DECLINED” in the spaces
leave the line blank.
provided.
4. Below your signature, enter your phone number and
LINE 37. Interest • .
email address.
If you do not pay the income tax due on or before the original
5. If you paid someone to prepare your return, make sure
due date of your return, even if you receive an extension
your paid preparer signs your return in the Paid preparer’s
of time to file, add interest. If you want the Department to
use only section. The preparer may sign by hand or any
calculate interest for you, leave the line blank.
method of electronic signature acceptable to the IRS. The
preparer must also fill in the other blanks in this section.
Formula to Calculate Daily Interest
Tax due x daily interest rate for the quarter x number of days For more information, see PIT-1 instructions, beginning
late = interest due on page 34.
6. If you are mailing a payment with your return, do the fol-
Interest Changes Quarterly lowing:
The annual and daily interest rate for each quarter is posted • Complete the PIT-PV payment voucher.
on our website at http://www.tax.newmexico.gov/Individuals/ • Write your social security number and the tax year on
penalty-interest-rates.aspx. For more information about your check.
interest, see PIT-1 instructions, page 33. • Cut the voucher on the dotted line.
• Mail the payment voucher with your payment.
LINES 39 through 42. Overpayment/Refund
If line 23 is less than line 32, you have an overpayment. Sub- IMPORTANT: Only submit a payment voucher if you submit
tract line 23 from line 32, and enter the difference on line 39. a payment.

If you have penalty or interest due from lines 34, 36, or 37, Submit ONLY High-Quality Printed, Original Vouchers
reduce your overpayment by the sum of the amounts in Payment vouchers are processed through high-speed scan-
those lines. If you owe penalty or interest the Department will ners. Cut the bottom portion of the voucher ONLY on the
reduce your overpayment by penalty and interest amounts. dotted line.

PIT-EZ Instructions EZ-7 www.tax.newmexico.gov

- 8 -

Where to Mail a Return WITHOUT a Payment                         Recommendations For Filing Your Return
If you are not mailing a payment with your return, mail your     The Department encourages all taxpayers to file electroni-
refund return or other return to:                                cally whenever possible. Electronic filing is fast, safe, and 
                                                                 secure. It provides the fastest turnaround for a refund and 
       NM Taxation and Revenue Dept.                             saves tax dollars. A return filed electronically costs less 
       P.O. Box 25122                                            than a paper return.
       Santa Fe, NM  87504-5122
                                                                 Taxpayers who file and pay electronically receive a filing 
Where to Mail a Return WITH a Payment                            deadline extension of April 30, 2021. For all other taxpay-
If you are mailing a payment with your return, mail your         ers, the filing deadline is April 15, 2021.
return, payment and voucher to:
                                                                 FINAL STEPS
       NM Taxation and Revenue Dept.                             If you are not electronically filing your return, follow these 
       P.O. Box 8390                                             steps:
       Santa Fe, NM  87504-8390                                  1. Mail your PIT-1 return, schedules, and attachments to 
                                                                   the address as noted in this page.  
Filing and Paying Online                                         2. Keep a copy of your original return and all attachments.                                                                            
You can file your return online for free at https://tap.state.
nm.us. You can also pay by electronic check (E-Check) at 
no charge.

You may use a credit card for an online payment. A conve-
nience fee is applied to reimburse the state for fees the credit 
card companies charge the State of New Mexico. The fee is 
calculated on the amount of the transaction.

Filing Checklist
Complete the Filing Checklist on PIT-1 instructions, page 37. 

Assemble Your Return
Put your PIT-1 and all attachments in the order shown below:

                                   Other Schedules
                                   PIT-CR-S
                             PIT-CR
                          PIT-D
                     PIT-B
                    PIT-RC 
                PIT-ADJ
           PIT-S
           PIT-1

           W-2, etc.

If your return shows tax due, add a payment voucher along 
with your check. 

                    PIT-PV
              Check or Money Order
                     $ _________

IMPORTANT: Do not use staples or tape to assemble your 
return.

PIT-EZ Instructions                                           EZ-8                   www.tax.newmexico.gov

PDF file checksum: 1468165825

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