Minnesota 529 Tax Deduction Calculator

2026 rules

Enter your contribution to see how much Minnesota lets you deduct and what it saves you this year.

Your numbers

Filing status

Contribution per child this year

Children (beneficiaries) you contribute for

Household AGI

Result

Minnesota tax saved$204

Total contributed$5,000
Deductible this year$3,000
Over the cap (no deduction)$2,000
Minnesota tax saved this year$204
Saved per $1,000 deducted$68.00

Lower-income families can take a credit of 50% of contributions, up to $500, instead of the subtraction.

Minnesota at a glance

Benefit: Minnesota lets you deduct up to $1,500 ($3,000 joint) of contributions to Minnesota 529 College Savings Plan or any state's plan each year.
Plans that count: Any state's 529 plan.
Good to know: Lower-income families can take a credit of 50% of contributions, up to $500, instead of the subtraction.

Questions

Is there a Minnesota tax deduction for 529 contributions in 2026?

Minnesota lets you deduct up to $1,500 ($3,000 joint) of contributions to Minnesota 529 College Savings Plan or any state's plan each year.

What can 529 money pay for without tax?

College tuition, fees, books, and room and board for students enrolled at least half time; up to $20,000 a year of K-12 tuition and expenses from 2026; apprenticeship costs; and up to $10,000 of student loan payments over a lifetime. States can treat some of these differently.

What happens to the Minnesota deduction if I withdraw for something else?

A nonqualified withdrawal is taxed on its earnings, plus a 10% federal penalty, and Minnesota can add back the deductions you took on the money you withdraw.