MN student loan credit M1SLC

Forum|Forum|1 year ago
February 21, 2025
1 reply
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I enter the amount my husband and I paid on our loans and It says based on what Ive entered we do not qualify.

we are below the income limit listed and I printed the form and completed and we should be eligible?

AmyC

Employee

Student Loan Credit | Minnesota Department of Revenue states:

Credit Amount

The credit amount depends on your income, loan payments, and original loan amount. The maximum credit is $500 each year or $1,000 for married couples filing a joint return.

Please look at the form, Schedule M1SLC, Student Loan Credit the program has completed and compare it to your form. Is there a negative sign, a wrong number, what is the difference between your form and the one made by the program?

To print or view your forms:

In desktop, switch to Forms Mode.
For online:
1. On the left side, select Tax Tools
2. Select Print center
3. Select Print, save or preview this year's return
4. If you have not paid, select pay now.

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beccselAuthor

TH M1SLC does not come up on the forms section as it says I dont qualify.

I printed a form and did the sheet and should qualify?

BrittanyS

To qualify for the M1SLC you must meet the following guidelines:

You may be eligible for the Student Loan Credit if both of these are true:
1. You have taxable earned income
2. You made payments toward your own qualified education loans during the year
3. You were a full-year or part-year resident of Minnesota

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