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New Mexico Capital Gains Tax Calculator

New Mexico taxes capital gains as ordinary income. Combined top rate: 29.7%.

Step 1: Your income before the capital gain

Your existing taxable income determines which federal capital gains bracket applies (0%, 15%, or 20%).

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Don't know your taxable income? Calculate it from gross income
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Standard deduction (single): $16,100

Or use the New Mexico Income Tax Calculator for a detailed breakdown.

⚠️ This calculator provides estimates for educational purposes only. It is not financial, tax, or legal advice. Your actual results may vary.

New Mexico Capital Gains Rules

  • Capital gains deduction ($2,500 or 40% for NM business)

    NM allows $2,500 deduction on general gains or 40% deduction on gains from sale of NM business

Frequently Asked Questions

Does New Mexico distinguish between short-term and long-term gains?
No. At the state level, New Mexico taxes both short-term and long-term capital gains as ordinary income. The federal preferential rates (0%/15%/20%) still apply to long-term gains for the federal portion.
How does New Mexico tax capital gains?
New Mexico taxes capital gains as ordinary income using progressive brackets. The top marginal rate is 5.9%, but your effective rate depends on your total taxable income.
What is the combined capital gains tax rate in New Mexico?
The maximum combined rate is 29.7% (federal 20% + NIIT 3.8% + state 5.9%). Most filers pay less because of progressive brackets and the federal 0%/15% rates.

Related Resources

New Mexico Capital Gains Tax Information

Official New Mexico tax information relevant to capital gains, including rates, forms, and filing resources.

New Mexico Income Tax Calculator

Calculate your New Mexico state and federal income tax

All State Capital Gains Calculators

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