FID-1: 1. 2025 FID-1 NM Fiduciary Income Tax Return (2025)
New Mexico · New Mexico TRD · Used for tax years 2025
Form FID-1 is the 2025 New Mexico Fiduciary Income Tax Return for estates and trusts. It reports income, adjustments, credits, payments, and tax due or refunds, with sections for beneficiary withholding and elected composite income tax.
What you'll need
Have the estate or trust's required federal employer identification number (FEIN), fiduciary contact information, and federal taxable income information ready.
Depending on the amounts you report, the form calls for these attachments:
- Credit for taxes paid to another state: A copy of the other state's return.
- Credits reported from FID-CR: Attach FID-CR.
- New Mexico income tax withheld on line 24: Attach the annual statement.
- Withholding from oil and gas proceeds: Attach Form 1099-Misc or RPD-41285.
- Withholding from a pass-through entity: Attach Form 1099-Misc or RPD-41359.
- New Mexico net operating loss deduction: Attach RPD-41375.
- Special calculation of estimated-tax underpayment penalty: Attach RPD-41272 if you owe the penalty and qualify for a special calculation method.
Estates or trusts with income from both inside and outside New Mexico must complete FID-B Schedules 1 and 2. FID-B also calls for supporting schedules for other income and other deductions, and federal Form 4972 for income from lump-sum distributions.
How to file
You can e-file and e-pay through the New Mexico Taxation and Revenue Department's Taxpayer Access Point (TAP) at https://tap.state.nm.us.
If the fiduciary reports 51 or more beneficiaries on FID-D, the return must be filed electronically.
To file by mail, send the original return and tax due to:
New Mexico Taxation and Revenue Department
P.O. Box 25127
Santa Fe, NM 87504-5127
Include applicable schedules and attachments. The form requires the signature of the fiduciary or an officer representing the fiduciary. Pay the tax due in full. Do not send cash.
Common mistakes
- Leaving out the FEIN: The estate or trust's FEIN is required.
- Completing the withholding section unnecessarily: Leave Section 2 blank if filing only fiduciary income tax.
- Not reporting a prior-year IRS adjustment: If an IRS adjustment to federal taxable income has not been reported to New Mexico, you must submit an amended New Mexico return.
- Skipping the direct-deposit question: You must answer whether the refund will go to or through an account outside the United States. If yes, you may not use this refund delivery option.
- Photocopying extra FID-D pages: Print them directly from the website. The form warns that photocopies can reduce barcode readability and cause processing delays.
- Using separate accounting for a New Mexico business: FID-B states that this method may not be used by a business in New Mexico.
Questions people ask
How do I show that I have an extension?
If you have a federal or New Mexico state extension, mark the extension box and enter the extended date.
What date do I enter for a final return?
Enter the liquidation or distribution date in item C.
Can I apply an overpayment to next year's tax?
Yes. On the 2025 return, line 33a lets you apply an overpayment to your 2026 liability. The amount cannot exceed the overpayment on line 33.
Can I have my refund directly deposited?
The form provides a direct-deposit option. Enter the routing number, account number, and account type, and answer the required question about accounts outside the United States. You cannot use this option if the refund will go to or through an account outside the United States.