New Mexico standard deduction & credits finder

Estimate New Mexico standard deduction and review common credits.

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How this finder works

Step 1 uses the federal standard deduction amounts tied to your filing status and age/blind boxes as a baseline for New Mexico.

Step 2 highlights credits and deductions that may apply based on your inputs.

Step 3 flags common deductions and credits so you can review eligibility and document support before filing.

Frequently asked questions

Does New Mexico have dependent exemptions?

New Mexico does not provide a separate personal exemption credit. Dependents can affect federal taxable income and certain state credits.

Can I itemize instead of standard deduction?

Yes. Compare itemized deductions to the standard deduction to see which is larger.

Does New Mexico have a standard deduction?

New Mexico starts with federal taxable income, so the federal standard deduction applies.

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Verify deductions and exemptions with New Mexico DOR guidance. Not legal or tax advice.

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