New Mexico State Return Issue

[jrschmitt1943]

In 2021, we had Solar Panels installed and qualified for a New Mexico tax credit.  The New Mexico requirements included schedules that were not available through Turbotax so I paper filed for the year 2021.  As a result, when I was working on the 2022 New Mexico return, I was not reminded about my energy credit carryover even though I had carryover on my federal return.

I have two questions.  First, I could not figure out a way to attach the required New Mexico forms to my state return through Turbotax and those forms are needed as long as I have carryover.  Is there a way to attach things to a state return  in Turbotax?

Second, since I missed the use of my carryover credit in 2022, I feel like I should amend that return.  Or should I ignore the missed carryover and just use what I can in 2023.  I have until 2025 to use the carryover?  What would you suggest?

[Vanessa A]

Is there a way to attach things to a state return  in Turbotax? No.  If you have to add an attachment, you would need to paper file your return, so you did do it the correct way.

Second, since I missed the use of my carryover credit in 2022, I feel like I should amend that return.  Or should I ignore the missed carryover and just use what I can in 2023.  I have until 2025 to use the carryover?  What would you suggest?   Yes, you should Amend Your Return to claim the credit carryover. You would need to use it on your 22 return before you could use it on your 23 return. The credit carryovers are used year over year consecutively until used up. Not attaching the form to your return could result in loss of the credit, so amending your return would be necessary. That means for 2022, if you had a tax liability (did not get a full refund) then you would be able to get more of your 2022 withholdings returned to you.  Then if there is any credit amount left, you would use it on your 2023 return.