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Can you please help me about the Form_41406. Where can I get it? And what is the 41406 Letter of Eligibility? Is it the copy of the loan contract? Thank you

 
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BrittanyS
Expert Alumni

Can you please help me about the Form_41406. Where can I get it? And what is the 41406 Letter of Eligibility? Is it the copy of the loan contract? Thank you

Form 41406 would be filled out during your New Mexico state return.  To enter follow these steps in TurboTax:

 

  1. Sign Into TurboTax
  2. Click State Taxes
  3. Edit New Mexico Tax Return
  4. Continue until you see Business Credits
  5. Check the box for New Solar Market Development Tax Credit (See screenshot below)
  6. Answer remaining interview questions

According to EMNRD, "To claim the credit, the taxpayer must attach Form TRD-41406, New Solar Market Development Tax Credit Claim Form, to your electronic or paper income tax return (Form PIT-1) or fiduciary income tax return (Form FID-1), a completed Schedule CR (PIT-CR or FID-CR), and a copy of a certification of eligibility from EMNRD".  The certificate of eligibility would come from the Energy, Minerals and Natural Resources Department.  Form 41405 is a New Solar Market Development Tax Credit Claim Form.  The form is used to claim a new solar market development tax credit certified by the Energy, Minerals and Natural Resources Department.  

 

See link below for more information:

 

 

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