Get Nm Rpd-41375 2023-2025

Filling out the NM RPD-41375 is essential for reporting net operating loss carryforwards for fiduciary income tax in New Mexico. This guide provides comprehensive, step-by-step instructions to ensure you accurately complete the form online.

Follow the steps to effectively complete the NM RPD-41375 online.

1. Press the 'Get Form' button to access the NM RPD-41375 and open it in your preferred editor.
2. Enter the taxpayer’s name and FEIN (Federal Employer Identification Number) in the designated fields at the top of the form.
3. In column 1, input the tax year for the net operating loss you are reporting.
4. In column 2, specify the amount of net operating loss incurred during the tax year indicated in column 1.
5. In column 3, provide the 2023 net income before any deductions for NM NOL, which should be calculated using Worksheet 2 from the instructions included with the form.
6. Fill out column 4 with the loss used from the current year, ensuring it does not exceed the value recorded in column 3.
7. Complete column 5 by recording the year in which you applied the loss reported in column 2 across prior years.
8. If applicable, enter any NM NOL that expired in the current year in column 6.
9. Lastly, calculate the NM NOL carryforward available for the next year and enter this amount in column 7.
10. Review all entries for accuracy, then save your changes, download the form, or print it for submission as required.

Complete your NM RPD-41375 online today to ensure accurate reporting of your net operating loss.