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The Minnesota Department of Revenue needs your support informing families they can qualify for valuable tax benefits on their 2024 income tax returns.
Minnesota offers several credits that ease the financial burden for families, renters, homeowners, and working individuals:
Child Tax Credit
- Families may qualify for a Child Tax Credit of $1,750 per qualifying child with no limit on the number of children claimed. They can receive a refund even if they do not owe tax.
- If a qualifying child is older than 17, filers may not claim them for the Child Tax Credit, but may be able to claim them for the Credit for Qualifying Older Children.
For more information, visit our Child Tax Credit webpage, or watch our video on the Child Tax Credit.
Credit for Qualifying Older Children
If taxpayer has a qualifying child who is older than 17, they may be eligible for the Credit for Qualifying Older Children.
The credit is:
- $925 for one qualifying older child
- $2,100 for two qualifying older children
- $2,500 for three or more qualifying older children
For more information, visit our Credit for Qualifying Older webpage.
Working Family Credit
- Provides a tax credit for working individuals and families, helping to reduce state income taxes and increase refunds.
- Is for working individuals whose income is below a certain level. They may receive a refund even if they do not owe tax.
The credit is 4% of your earned income, up to a maximum of $350. For more information, visit our Working Family Credit webpage.
K-12 Credit and Subtraction
- K-12 Credit: Helps reduce taxpayers’ state income tax or provides a refund for qualifying education expenses.
- K-12 Subtraction: Allows them to subtract educational expenses from your income up to:
- $1,625 per child (grades K-6)
- $2,500 per child (grades 7-12)
For more information, visit our Qualifying Expenses for the K-12 Education Credit and Subtraction webpage, or watch our video on the K-12 Credit and Subtraction.
Property Tax Refund
Minnesota has both the Homestead Credit Refund (for Homeowners) and the Renter's Property Tax Refund:
- Homeowners may be eligible for a refund if their property taxes exceed a certain percentage of their income
- Renters can receive a refund based on their income and the rent they pay
For more information, visit Property Tax Refund webpage.
Questions?
If you have questions on these credits or need more information, contact our outreach coordinators:
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