Minnesota 529

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AG2013
Posts: 4
Joined: Wed Oct 04, 2017 7:17 pm

Minnesota 529

Post by AG2013 » Wed Oct 04, 2017 7:37 pm

Hi all,

First time poster here and it goes without saying the information gleaned from this site has proved invaluable. Per the subject line, we are looking to open a 529 for my 5mo daughter; likely with 1-2k initially and 1-200 dollars monthly afterwards. It's my understanding that Minnesota now offers state tax breaks for 529 contributions. What I have not been able to pin down is if the MN plan (mnsaves.org) is required or if any other state's plan, such as Utah, qualifies. Has anyone else looked into this?

Thanks in advance!

smitty1515
Posts: 90
Joined: Fri May 13, 2016 6:34 pm
Location: United States

Re: Minnesota 529

Post by smitty1515 » Wed Oct 04, 2017 8:29 pm

The deduction is not for MN 529 only. Here’s info on the law.

http://www.dorvalchorne.com/blog/new-mi ... tributions
Be fearful when others are greedy and greedy when others are fearful. -Warren Buffett

AG2013
Posts: 4
Joined: Wed Oct 04, 2017 7:17 pm

Re: Minnesota 529

Post by AG2013 » Thu Oct 05, 2017 5:31 am

Thanks! Opened a Utah acct this morning!

jerryk68
Posts: 94
Joined: Wed Jan 22, 2014 7:56 pm

Re: Minnesota 529

Post by jerryk68 » Thu Oct 05, 2017 6:05 am

Consider the NY 529 for the reasons stated here:
viewtopic.php?p=3502553#p3502553

smee44
Posts: 10
Joined: Wed Oct 19, 2016 5:31 pm

Re: Minnesota 529

Post by smee44 » Thu Oct 05, 2017 9:27 am

Thanks for posting this. I missed this law change in MN and will likely take advantage of the deduction now.

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