RPD-41329: RPD-41329 Sustainable Building Tax Credit Claim Form (Revision 2016-04)
New Mexico · New Mexico TRD · Used for tax years 2024, 2025, 2026
Form RPD-41329 claims an approved New Mexico sustainable building tax credit against income tax due. It reports the approved credit, amounts claimed in prior years, unused credit, and the amount applied to the attached return.
Who files this form
Owners or holders claiming an approved sustainable building tax credit use Form RPD-41329 with their New Mexico income tax return. You must first have TRD approval of the credit. The form also covers claims for available carryforward credit.
Check that you are using the correct form. The text directs taxpayers claiming the new sustainable building tax credit for tax years beginning on or after January 1, 2017, and ending on or before December 31, 2026, to Form RPD-41382 for approval details and Form RPD-41383 to claim that credit.
What you'll need
Have these documents and details available to complete your claim:
- Your approved Form RPD-41327, or TRD-approved Form RPD-41342 if the credit was transferred to you.
- The first eligible tax year shown on your EMNRD certificate of eligibility or approval document.
- Records of credit amounts claimed in previous tax years, so you can calculate the unused credit.
- The claimant’s name, mailing address, SSN or FEIN, and contact information.
- Your New Mexico income tax return and the applicable Schedule CR.
Attach the completed, signed Form RPD-41329, including Schedule A, and the applicable Schedule CR to your income tax return.
How to file
- Enter the owner’s or holder’s identifying and contact information.
- On line 1, enter the beginning and ending dates of the tax year for your claim.
- On line 2, enter your net New Mexico income tax before subtracting any credits.
- Complete a separate row of Schedule A for each approved credit. List its credit number, first eligible tax year, approved amount, prior claims, unused amount, and amount applied to this return.
- Add Schedule A, column (f), and enter the total on line 3. This amount cannot exceed line 2.
- Sign and date the form. Attach it, including Schedule A and the applicable Schedule CR, to Form PIT-1, CIT-1, S-Corp, or FID-1 for the tax year of the claim.
- Mail the documents to the address printed on your New Mexico income tax return.
For help completing the form, obtaining TRD approval, or claiming the credit, call (505) 827-0792.
Common mistakes
- Leaving out the signed claim form. The form warns that failure to attach it to your New Mexico personal or corporate income tax return results in denial of the credit.
- Omitting required schedules. Attach Schedule A and the Schedule CR for your return.
- Using carryforward before current-year credit. Apply credit approved for the current tax year first, then available carryforward credit, oldest approval first.
- Claiming too much. Line 3 cannot exceed line 2. All credits combined may not exceed the net New Mexico income tax on line 2.
- Listing unavailable credits. Do not include credits that lack TRD approval, have expired, or were not claimed in the tax year for which they were approved to be applied.
- Skipping the first eligible year because no tax is due. You must first claim the credit or eligible portion in that year before claiming a carryforward, even if no tax is due.
Questions people ask
Can I carry unused credit forward?
Yes. The text allows excess credit that has been claimed to be carried forward for up to seven years. You must first claim the credit or eligible portion in the year you are eligible to claim it, even if no tax is due.
Which credit should I use first?
Use the credit approved for the current tax year first. If tax is still due, apply available carryforward credit from prior years, starting with the oldest approval date.
What credit number do I enter for a transferred credit?
Enter the new credit number assigned by TRD on Form RPD-41342, Notice of Transfer of Sustainable Building Tax Credit.
Can I transfer unused credit after claiming it?
No. Once a holder or owner claims a credit, the carryforward cannot be sold, exchanged, or transferred.
How does the credit work for married people filing separately?
If you could have filed a joint return but file separate returns, each spouse may claim only one-half of the sustainable building credit that would have been allowed on a joint return.