FID-CR: 4. 2025 FID-CR Tax Credit Schedule (2025)
New Mexico · New Mexico TRD · Used for tax years 2025
The 2025 New Mexico FID-CR is a tax credit schedule for estates and trusts filing a Fiduciary Income Tax Return (FID-1). It reports listed tax credits applied against fiduciary income tax and any refundable portions of approved credits.
Who files this form
Use the 2025 FID-CR if you are claiming any of the listed tax credits against New Mexico fiduciary income tax reported on Form FID-1 for an estate or trust. You can also use it to claim the refundable portion of approved credits, if applicable.
Attach FID-CR to Form FID-1. If you claim more than five credits, also use the FID-CR Supplemental Schedule.
What you'll need
Have the following ready:
- The estate or trust’s name and FEIN.
- Form FID-1, including the amounts on lines 9 and 10.
- The credit type code and credit approval number for each credit claimed.
- The claim form and supporting documents listed for each credit in the FID-CR table. Depending on the credit, these include certificates of eligibility, certifications, approval letters, letters of eligibility or investment vouchers.
- The claim form or supporting instructions used to calculate each credit.
- FID-CR Supplemental Schedules if you claim more than five credits.
For example, the Affordable Housing Tax Credit requires Form RPD-41301 and MFA investment vouchers. The Preservation of Cultural Property Credit requires Form PIT-4, a certification letter and Part 2 approval. Check the table for the exact attachments required for your credits.
How to file
Submit FID-CR as an attachment to your 2025 Form FID-1, with the required supporting documents for each credit. The supplied form does not give a mailing address or e-filing instructions.
- Enter the estate or trust’s name and FEIN.
- Complete columns A through D, as applicable: credit type code, credit approval number, amount applied to tax due and amount to refund.
- Enter the first five credits on FID-CR. Enter the sixth and any additional credits on FID-CR Supplemental Schedules.
- Total column C on line A, including supplemental schedule amounts. Enter that total on FID-1, line 11.
- Total column D on line B, including refundable amounts from supplemental schedules. Enter that total on FID-1, line 34.
- Attach FID-CR and all supplemental schedules to FID-1.
Common mistakes
- Leaving claim information incomplete. Complete columns A through D, rows 1 through 5, as applicable. Incomplete claim forms may result in denial of the credit.
- Using a substitute table. You must use the table provided on the form. Substitute schedules or tables are not allowed.
- Missing supporting documents. Attach the required backup documentation for each credit.
- Omitting schedules. Attach FID-CR and every FID-CR Supplemental Schedule to FID-1. The form says the Department denies additional credit claims if the schedules are not attached.
- Forgetting supplemental totals. Include supplemental amounts in FID-CR lines A and B, as applicable.
- Putting nonrefundable credits in column D. Nonrefundable credits may be claimed only in column C.
Questions people ask
Can I claim a refund using FID-CR?
Yes, if applicable. Credits listed as refundable may be applied against tax due in column C and refunded in column D. Transfer the total refundable amount from line B to FID-1, line 34.
What limit does the form state for credits claimed?
The form states that the sum of credits claimed on FID-CR may not exceed FID-1, line 9, minus any credit for tax paid to another state reported on line 10.
What if I have more than five credits?
Claim the first five on FID-CR and the sixth and any additional credits on a FID-CR Supplemental Schedule. Use multiple supplemental schedules if you need more space, and attach them all to FID-1.
Where do I find the amount I can claim for a credit?
Refer to that credit’s claim form or supporting instructions. FID-CR also points to FYI-106, Claiming Business-Related Tax Credits for Individuals and Businesses, for descriptions of credits.