After you file
Form 41406 would be filled out during your New Mexico state return. To enter follow these steps in TurboTax:
- Sign Into TurboTax
- Click State Taxes
- Edit New Mexico Tax Return
- Continue until you see Business Credits
- Check the box for New Solar Market Development Tax Credit (See screenshot below)
- 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:
