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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.

Note: Before claiming this credit for tax year 2018, review the 2018 Schedule M1NC, Federal Adjustments, and determine if you must file this schedule. For more information, go to Federal Adjustments.

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Who Qualifies [+]

You may qualify for the 2020 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 “How much is this credit?”)
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 the plan.
You made contributions to a qualified plan by December 31, 2020.

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 $79,640.

If you file as Single, Head of Household, or Married Filing Separately
And your Minnesota AGI is	Your maximum credit s
Less than $79,640	$500
Between $79,640 and $104,640	$500 reduced by 2% of Minnesota AGI exceeding $78,340
More than $104,640	$0 (You are not eligible)

If you file as Married Filing Jointly or Qualifying Widow(er)
And your AGI is	Your maximum credit is
Less than $79,640	$500
Between $79,640 and $104,640	$500 reduced by 1% of Minnesota AGI exceeding $79,640
Between $104,640 and $143,350	$250
Between $143,350 and $168,350	$250 reduced by 1% of Minnesota AGI exceeding $143,350
More than $168,350	$0 (You are not eligible)

Claim the Credit [+]

Contact Info

Contact form

Phone [+]

Questions

651-296-3781
800-652-9094

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Address [+]

Mail your income tax return to:

Minnesota Department of Revenue
Mail Station 0010
600 N. Robert Street
St. Paul, MN 55145-0010

Mail your property tax refund return to :

Minnesota Department of Revenue
Mail Station 0020
600 N. Robert Street
St. Paul, MN 55145-0020

Mail your tax questions to:

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

Street address (for deliveries):
Minnesota Department of Revenue
Individual Income Tax
600 North Robert Street
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

June 07, 2021

Education Savings Account Contribution Credit

Section 529 College Savings Plan

Contact Info

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