New Mexico allows you to exclude your retirement income of up to $8,000 based off of your filing status and your federal adjusted gross income if you meet one of the following:
- You are 65 or older
- You are not 65, but are considered blind for federal tax purposes
- An enrolled member of a NM federally recognized Indian nation, tribe or pueblo who domiciled in the boundaries of the reservation or pueblo grant and;
- Your retirement or pension is a result of employment
This is an automatic deduction calculated by the program once all of your information has been entered.
Note: You may not exempt retirement or pension income from employment outside the boundaries of your reservation or pueblo grant or outside the boundaries of land defined as “Indian country”.