New Mexico Medical Care Credit

Refundable Medical Care Credit for Persons 65 or Older If you or your spouse are 65 years of age or older, and you paid unreimbursed and uncompensated medical care expenses of $28,000 or more during tax year 2021, you may claim a tax credit of $2,800. The medical care expenses can be for the care of any combination of you, your spouse, or dependents. The tax credit is allowed for [...]

New Mexico Voluntary Contributions

New Mexico Housing Trust Fund The New Mexico Mortgage Finance Authority administers the fund to provide flexible funding for housing initiatives that will provide affordable housing primarily for persons or households of low or moderate income. To learn more visit www.housingnm.org. Contact: New Mexico Mortgage Finance Authority, 344 Fourth St. SW, Albuquerque, NM 87102, or call (505) 843-6880 [...]

Oregon Tuition and Fees

Tuition and fees [ORS 316.716(3)] Oregon’s tuition and fees subtraction was for taxpayers who had to reduce the tuition and fees deduction on their federal return because they were claiming a federal education credit. Congress has repealed the federal tuition and fees deduction for tax years after 2020. This means that there is no longer a deduction that must be reduced in order to claim [...]

What causes an error on Student Loan interest deductions?

You can get an error if you have entered a Student Loan Interest Deduction that exceeds $2,500. The maximum deductible interest on a qualified student loan is $2,500 per return. IF your filing status is... AND your MAGI is... THEN your student loan interest deduction is... single, head of household, or qualifying widow(er) not more than $70,000 not affected by the phaseout. [...]

I have an error on my SSN for my state return.

If your error indicates the name and SSN of the primary taxpayer does not match the IRS records even though you are not filing a federal return, your state return is forwarded through the IRS as a State Only return and must first pass their preliminary checks. Likely a federal rejection as the return must be accepted with the IRS before the state return is sent. How to correct this error: From [...]