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Last Updated: 8/29/2017

Discharge of Indebtedness for Education Loans Subtraction

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Individuals whose qualified education loans are forgiven may be eligible for a subtraction from income of the entire amount forgiven.

When is this subtraction available?

The Discharge of Indebtedness for Education Loans subtraction is available beginning tax year 2017.

Do I qualify for this subtraction?

Individuals who receive a discharge of indebtedness of a qualified education loan after completing a federal income-based repayment plan are eligible for this subtraction.

How do I file this subtraction?

Complete Schedule M1M, Income Additions and Subtractions, to claim this subtraction from Minnesota income. Visit our website in January 2018 for tax year 2017 forms and instructions.