Attention Parents of K-12 Children!


The time of year has come again, the kids are getting ready to go back to school, meaning fall is following not far behind. That being said, there are a few things you can do now to help yourself out come tax season.

Minnesota has two programs-the K-12 education subtraction and the K-12 Education Credit.  These programs help families pay expenses related to their child’s kindergarten through 12th grade education. Both programs lower the tax you will pay and potentially increase your refund when you file your MN income tax refund. To claim either the education subtraction or credit you will need to provide itemized receipts that can prove any qualifying expense, so as you are doing your back to school shopping make sure you are keeping these.

Some of the qualifying expenses include: Private school tuition, tutoring, academic books, paper, pens, pencils, and many more. See detailed list here: K-12 Education Subtraction and Credit

Once you have finished the year you can compile the expenses that were directed towards your child’s education, from that point you can you can subtract the qualifying expenses up to a maximum of $1,625 per qualifying child in grades K-6, and $2,500 for a qualifying child in grades 7-12. There is no family maximum, only the per child maximum.

As for the education credit, if you qualify, this may reduce your state income tax liability. To qualify for the credit, your household income must be under a certain limit based on the number if qualifying K-12 children you have.

For more details on the K-12 Education Subtraction and Credit you can click the links below:   K-12 Education Subtraction and Credit