The EV rebate is discussed as the last issue on this informational release.
MN Instructor Digest 2-20-2025
To: Minnesota Instructors
CC: DCs
From: MN3 TRS Team
Contents:
- TaxSlayer Enhancement for QCD (Qualified Charitable Distribution)
· MN Advance Child Tax Credit Helpful Tool
· MN Renter’s Credit Reminder for MFJ Taxpayers
· MN Renter’s Credit Missing ECN
· MN EV Rebate
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TaxSlayer Enhancement for QCD
TaxSlayer simplified entry for 1099-R’s with QCD amounts. Follow these instructions:
- Click on link below Box 2a, “Click here for options”
2. Select “Qualified Charitable Distribution” menu
3. Enter QCD amounta. QCD indicator will automatically carry to Form 1040 (very bottom of the first page)
b. QCD checkbox will automatically be marked in the Nontaxable Distributions menu (located in TaxSlayer Income>Form 1099-R, RRB, SSA>Nontaxable Distributions) - Remember to manually reduce 1099-R Box 2a by the QCD amount (a future update to automatically adjust the taxable amount in Box 2a is planned)
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MN Advance Child Tax Credit Helpful Tool
The Minnesota TaxAide Website’s “Discussing the MN Child Tax Credit Advance Payments Option” now includes a link to the MN Department of Children, Youth, and Families Advance CTC/SNAP Estimator. Because the Advance Child Tax Credit can affect a taxpayer’s monthly SNAP benefit, it is recommended that taxpayers use this estimator to help them decide whether to enroll in the CTC Advance Payments Option. The estimator requires taxpayer’s 2024 AGI, household’s tax filing status, number of qualifying children 16 or under as of the end of 2024, detailed SNAP Case information.
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MN Renter’s Credit for Married Couple Filing MFJ
Most married couples who live together in a rental property will receive two CRPs from the landlord. In such cases, add the rent amounts together and put them on one CRP using the ECN from the primary taxpayer’s CRP.
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MN Renter’s Credit Missing ECN
We have seen a number of CRPs with missing ECNs. Current guidance from MNDOR is to file the return without the ECN.
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MN EV Rebate
MN issues a 1099-MISC to taxpayers who received an EV Rebate in 2024. This amount is taxable income for both Federal and MN income taxes.
