2015 New Mexico Net Operating Loss Carryforward Schedule for Fiduciary Income Tax-2026

1. Click ‘Get Form’ to open the 2015 New Mexico Net Operating Loss Carryforward Schedule in our editor.
2. Begin by entering the taxpayer’s name and FEIN at the top of the form. This information is essential for identification purposes.
3. In Column 1, input the tax year for which you incurred the net operating loss. Ensure accuracy as this will affect your calculations.
4. Column 2 requires you to enter the net operating loss incurred in that year. Refer to Worksheet 1 if needed for prior years' calculations.
5. For Column 3, provide the net income before applying the NM NOL deduction, as calculated from Worksheet 2.
6. Complete Columns 4 through 7 by detailing how much of the NM NOL was used, when it was applied, any expired amounts, and what carryforward is available for next year.
7. Finally, ensure that Line 1 equals the sum of Column 4 and matches Line 5 from Worksheet 2 before submitting your completed schedule with Form FID-1.

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