Is it necessary to file New Mexico form pte as well as form rpd-41367 (pass-through withholding detail report)?

Forum|Forum|3 years ago
March 16, 2023
2 replies
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form pte asks for info that i have no information on

TurboTax Online

DaveF1006

To clarify, is your business a pass-through entity such as a partnership, S-corp, or Trust or did you receive a K1 from one of these entities?

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jayrich63Author

I did find out that I need to file the forms . Did you get my answer to your first reply? I kept on getting a message that my response was not deliverable. After pounding over the instructions for filling out the forms I found a way to get them to agree to the net income and tax withheld. Thanks for your help and follow up.

jayrich63

jayrich63Author

To Davef1006

Yes, it's a partnership in with Mewbourne Energy Partners. I did get a sched K1 (that already entered) and form RPD-41359 showing NM net income of $427 and tax withheld of $25. TurboTax is asking for Pass-thru entity withholding detail to scan and include with e-file to New Mexico. I downloaded form PTE from NM, but I cannot answer questions concerning property, payroll, and sales factors (PTE-A) and allocated non-business income taxable to owners (PTE-B). Also, I can't calculate net taxable to owners that matches the data on RPD-41359. The best I can come up with is $729.

The form PIT-1 (NM Personal Income Tax Return) shows tax amount of $8 due, thus giving me $17 return (which I will donate to a NM charity)

I also downloaded and completed form PTW-D (Pass-thru withholding detail report), and its Schedule A. My intention is to skip the PTE form and just submit the PTW-D and its Sched A.

Sorry to ramble on so much. Thanks for responding and for whatever comments you have