Minnesota made a change on how it will treat Social Security and Railroad Retirement Benefits. Published August 29th, 2017 on the Minnesota Department of Revenue website.
Minnesota taxpayers who receive Social Security or Railroad Retirement benefits may qualify for a subtraction from income on their state return.
The Social Security Benefit subtraction is available for tax year 2017 and later.
This subtraction is available to individuals whose taxable Minnesota income includes Social Security or Railroad Retirement benefits. The subtraction is subject to income limits.
The subtraction amount depends on your filing status and provisional income, as shown in the table below.
Provisional income is your federal adjusted gross income (FAGI) plus any tax-exempt interest and one-half of your Social Security and tier 1 Railroad Retirement benefits.
Complete Schedule M1M, Income Additions and Subtractions. Follow the instructions to claim this subtraction from Minnesota income.
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