Tax professionals

Minnesota has many education-related tax credits and subtractions available. Here is a comprehensive list to help you and your clients claim these tax savings.

*Tax benefit name*



*Description*



*Tax form to claim it*



K-12 Education Credit?



Helps clients offset the cost of certain education expenses for their qualifying children in grades K-12.



Schedule M1ED, K-12 Education Credit



Education Savings Account? Contribution Credit



Clients may qualify if they contributed to a section 529 college savings plan.



Schedule M1529, Education Savings Account Contribution Credit or Subtraction



Credit for Attaining Master?s Degree in Teacher?s Licensure



Clients may qualify if they are a licensed Minnesota teacher completing a master?s degree program in their licensure field.



Schedule M1CMD, Credit for Attaining Master?s Degree in Teacher?s Licensure Field



Student Loan Credit



Clients may qualify if they are a Minnesota resident making payments on their own postsecondary education loans. For married couples, each spouse may qualify.



Schedule M1SLC, Student Loan Credit



K-12 Education? Subtraction



Helps clients offset the cost of certain education expenses for their qualifying children in grades K-12.



Schedule M1M, Income Additions and Subtractions



Education Savings Account? Contribution Subtraction



Clients may qualify if they contributed to a section 529 college savings plan.?



Schedule M1529, Education Savings Account Contribution Credit or Subtraction



Discharge of Indebtedness for Education Loans Subtraction



Clients may qualify if they had a qualifying education loan forgiven after completing an income-driven repayment program, and they included the forgiven amount in? federal adjust gross income.



Schedule M1M, Income Additions and Subtractions



Unreimbursed employee expenses related to teaching



Clients may qualify if they had teaching or classroom expenses and did not deduct them as educator expenses on their federal tax return.



Schedule M1SA, Minnesota Itemized Deductions



*Questions?*

Contact us.

*If you*



*Then*



Need help with your clients? accounts and have power of attorney on file with us



Contact the appropriate taxing division [ [link removed] ]



Have questions about tax law changes



Email [email protected]



Have general questions, need time-sensitive assistance, or have an idea for a tax pro tip



Email [email protected], or call 651-556-6606



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