New Mexico retirement income taxability checker
Estimate New Mexico retirement income tax impact using current brackets.
How this checker works
Step 1 totals your retirement income inputs for context.
Step 2 applies the Social Security AGI threshold before calculating taxable retirement income.
Step 3 summarizes the retirement income you entered and highlights other income that could still be taxable.
Frequently asked questions
Are IRA and 401(k) withdrawals taxable in New Mexico?
Yes. New Mexico taxes IRA and 401(k) withdrawals as ordinary income unless a specific subtraction applies.
Does New Mexico exempt any retirement income?
New Mexico taxes most retirement income as ordinary income. Some state-specific subtractions may apply depending on your situation.
What about Social Security?
New Mexico subtracts taxable Social Security if AGI is at or below $150,000 joint / $100,000 other ($75,000 MFS).
Related tools
New Mexico retirement taxability depends on benefit type and eligibility. Not legal or tax advice.