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Level 1
September 17, 2020
Question

Does New Mexico allow the Miscellaneous Itemized Deduction

  • September 17, 2020
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1 reply

itonewbie
Level 15
September 17, 2020

The short answer is no.

NM is one of the states that have rolling conformity with the IRC.  There is no special provision for Misc. I/D deduction - Line 12 of PIT-1 comes straight from Line 9 of F.1040.  Starting TY2019, however, there is now an additional dependent deduction to help offset the impact of TCJA.

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