You can enter your Minnesota 529 deduction on the Minnesota Credits screen.
- Tap State
- Select Your State Returns at the top
- On Status of Your State Returns, continue Minnesota
- Proceed to Minnesota Credits
- Start 529 College Savings Plan
Yes, a Minnesota taxpayer may be eligible for either a deduction or a tax credit on contributions during a taxable year.
Net contributions by a taxpayer who does not claim the Minnesota tax credit for contributions are deductible for Minnesota income tax purposes each year. Tax deductions up to $3,000 for joint income tax return filers and $1,500 for all other filers.
Frequently Asked Questions
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