How do I file a New Mexico non resident state return for a installment loan? I live out of state, do I allocate the interest from the installment payment to New Mexico?

tj-21 — Sat, 01 Jun 2019 15:25:56 GMT

I sold a rental property in New Mexico using the installment method in 2017. I am no longer a resident of NM. When filing a non resident return in NM, I know I need to include the capital gain. Do I allocate the Interest from the installment payments to New Mexico?

Thanks!

Yes, you should report the Interest Income Payments you r...

MarilynG — Sat, 01 Jun 2019 15:25:57 GMT

Yes, you should report the Interest Income Payments you receive for a property you sold in New Mexico on your New Mexico Non-Resident return.

New Mexico Taxation & Revenue says:

"Nonresidents, including foreign nationals and persons who reside in states that do not have income taxes, must file here when they have a federal filing requirement and have income from any New Mexico source whatsoever. You must file Form PIT-1 to report and pay personal income tax. "

Here's the link for more detailed info:

http://www.tax.newmexico.gov/Individuals/personal-income-tax-information.aspx

topic How do I file a New Mexico non resident state return for a installment loan? I live out of state, do I allocate the interest from the installment payment to New Mexico? in After you file

How do I file a New Mexico non resident state return for a installment loan? I live out of state, do I allocate the interest from the installment payment to New Mexico?

Yes, you should report the Interest Income Payments you r...