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New Member
posted Mar 12, 2024 2:41:17 PM

If I was unemployed last year in the state of New Mexico and had no taxable income do I file a tax return

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1 Replies
Employee Tax Expert
Mar 12, 2024 2:48:19 PM

No.  If you had absolutely no taxable income, then you would not need to file a tax return.  If however, you received Unemployment compensation, this is taxable income, so you would need to file a federal return if you received more than your standard deduction. 

 

The 2023 Standard Deductions are as follows:

  • Married Filing Joint (MFJ)              $27,700
  • Married Filing Separate (MFS)      $13,850
  • Head of Household (HOH)             $20,800 
  • Single                                                     $13,850
  • Both over 65 MFJ                           
  • Over 65 Single                                 
  • Over 65 HOH                                 

Blind and MFJ or MFS add $1,500

Single or HOH if blind add $1,850