Questions & Answers

What portion and types of income can I exclude from my New Mexico income as a New Mexico resident?

If you earned income from states other than New Mexico while you were a New Mexico resident, certain types of income should be excluded from your New Mexico income if the income is not from New Mexico sources.

This includes income from rents and royalties, gains or losses from sale or exchange of property, income or losses from pass-through entities, and income from businesses and farms.

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