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Education Savings Account Contribution Credit

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Section 529 College Savings Plan

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If you contribute to a section 529 college savings plan, you may be eligible for a nonrefundable credit.

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Who Qualifies [+]

You may qualify for this credit if all of these are true:

You are a Minnesota resident or part-year resident.
You meet certain income guidelines. (See the table under “Credit Amount.”)
You contributed to any state-sponsored section 529 college savings plan, including prepaid tuition plans. Contributions to qualified plans are eligible regardless of which state administers it.
You made contributions to a qualified plan by December 31, 2024.

You may not claim this credit if any of these apply:

You claimed the Education Savings Account Contribution Subtraction.
You are a nonresident.
You are eligible to be claimed as a dependent.

Do I have to be the account owner or beneficiary to qualify?

No. You may claim this credit for your contributions to any qualifying account, regardless of the owner or beneficiary.

Qualified Expenses [+]

Credit Amount [+]

The credit is 50% of contributions made during the year, up to a maximum of $500. This credit phases out if your Minnesota Adjusted Gross Income (Minnesota AGI) is over $88,810.

If you file as Married Filing Jointly
And your Minnesota AGI is	Your maximum credit Is
$93,610 or less	$500
More than $93,610 but less than $118,610	$500 reduced by 1% of Minnesota AGI exceeding $93,610
More than $118,610 but less than $159,860	$250
More than $159,860 but less than $193,500	$250 reduced by 1% of Minnesota AGI exceeding $159,860
More than $193,500	$0 (You are not eligible)

If you file as any other status
And your AGI is	Your maximum credit is
$93,610 or less	$500
More than $93,610 but less than $118,610	$500 reduced by 2% of Minnesota AGI exceeding $93,610
More than $118,610	$0 (You are not eligible)

Claim the Credit [+]

Contact Info

Contact form

Phone [+]

Questions

651-296-3781
800-652-9094

Hours [+]

Address [+]

Mail your income tax return to:

Minnesota Revenue
Mail Station 0010
600 N. Robert St.
St. Paul, MN 55146-0010

Mail your property tax refund return to :

Minnesota Revenue
Mail Station 0020
600 N. Robert St.
St. Paul, MN 55146-0020

Mail your tax questions to:

Minnesota Revenue
Mail Station 5510
600 N. Robert St.
St. Paul, MN 55146-5510

Street address (for deliveries):
Minnesota Revenue
Individual Income Tax
600 N. Robert St.
St. Paul, MN 55101

Returns and payments may be placed in the night deposit box located in front of our building.

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Last Updated

December 18, 2024

Education Savings Account Contribution Credit

Section 529 College Savings Plan

Contact Info

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