Knowledge Base

13227: NM - No 1120S K1

New Mexico

Why am I not seeing a Schedule K-1 for New Mexico when I view the 1120-S return?

NM Instructions for Form PTE Information Return for Pass-Through Entities state "do not submit Schedule K-1 or equivalent forms with the S Corp return." Therefore, Drake Tax does not produce a K1 for NM in View/Print mode of the NM return.

Please see the NM Instructions for S-CORP, Sub-Chapter S Corporate Income and Franchise Tax Return located on the NM Taxation and Revenue Website (NM forms are also available at the New Mexico Forms & Publications web page).

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