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Minnesota offers many tax benefits to parents and families. Your client may qualify for Minnesota tax credits if they have qualifying children and meet certain income requirements. Minnesota also has a credit and subtraction if you paid qualifying K-12 education expenses for your children.
Tax benefits include:
- Child and Dependent Care Credit
- Child Tax Credit
- Credit for Qualifying Older Children
- Dependent Exemption
- K-12 Education Subtraction and Credit
- Marriage Credit
- Parents of Stillborn Children Credit
- Working Family Credit
What if the child has an ITIN and not a Social Security Number?
For Minnesota, a qualifying child with an Individual Taxpayer Identification Number (ITIN) is acceptable for any subtraction or credit, except the K-12 Education Subtraction and Credit. Make sure you enter the ITIN on Schedule M1DQC on the correct line.
Questions?
Contact us.
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