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vscpanm
vscpanm
Level 6
February 24, 2026
Question

NM Capital Gains deduction 2025

  • February 24, 2026
  • 1 reply
  • 8 views

NM capital gains deduction rules changed for 2025. Instructions for PIT ADJ state no more than $2500 deduction is allowed. ProSeries is allowing 40% for non business gains. This needs to be corrected, I believe.  Any one else see this issue from NM? 

1 reply

D
danatsmith
Level 3
February 26, 2026

I'm seeing ProSeries limited to $2500 on PIT-ADJ but got an efile rejection (2.24.2026) saying ProSeries had not efiled the return due to NM "pending product update related to Form fPIT-ADJ capital gains. This update is scheduled for release on February 26, 2026. ON or after that date, please log in to ensure your product has been updated.... resubmit return". I manually updated all products today (2.26.2026) and submitted again. I got the same message and the NM return was not submitted.  Not sure what is going on, came to the online community first now I'll call tech support.

vscpanm
vscpanmAuthor
Level 6
February 26, 2026

Glad I'm not the only one with issues. I haven't tried e-filing a return with CAP Gains for that reason. 

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