1 1 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86 3 3 4 FINAL DRAFT — 10/2/23 4 5 5 6 *231781* 6 7 2023 Schedule M1CMD, Credit for Attaining Master’s Degree 7 8 in Teacher’s Licensure Field 8 9 9 10 You may qualify for this credit if all of these are true: 10 11 • You began a master of arts or science degree program after June 30, 2017 11 12 • Your master’s degree program did not include pedagogy or a pedagogy component 12 13 • You held a teaching license from the Minnesota Professional Educator Licensing and Standards Board (PELSB) when you began and 13 14 completed the program 14 15 • You completed the program in taxable year 2023 15 16 • You completed the master’s degree program in a core content area directly related to your licensure field. Core content areas are 16 17 reading, English or language arts, mathematics, science, foreign languages, civics and government, economics, arts, history, and 17 18 geography 18 19 See the instructions for additional qualifications. 19 20 20 21 YOUR FIRST NAME, INITXXXX YOUR LAST NAMEXXXXXXXXXXXX 999999999 21 Your First Name and Initial Last Name Social Security Number 22 22 23 23 24 Minnesota PELSB Licensure Information 24 25 25 26 FUNCTION DESCRIPTIONXXXXX 12XXXXXXXXXXXXXXXXXXXXXXXX 99999999999999 26 Function Description Student Grade Level File Folder Number 27 27 28 28 29 Master’s Degree Program Information 29 30 30 31 ACCREDITED COLLEGE UNIVER DEGREE PROGRAMXX 11223333 11223333 31 Accredited College/University Degree Program Program Start Date Program Completion Date 32 32 33 33 34 34 35 Round amounts to the nearest whole dollar. 35 36 All Applicants 36 37 1 Total amount paid in tuition and required fees, books, and instructional materials for the program . . . . . . . . . . . . . . . 1 12345678 37 38 38 39 2 Total amount of scholarships received in all years for the program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 12345678 39 40 40 41 3 Total employer reimbursement received in all years for the program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12345678 41 42 42 43 4 Add lines 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 12345678 43 44 44 45 5 Subtract line 4 from line 1. If zero or less, STOP HERE. You do not qualify . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 12345678 45 46 46 47 6 Enter the lesser of line 5 or $2,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 12345678 47 48 Full-Year Residents: Also enter this amount on line 8 of Schedule M1C. 48 49 49 50 50 51 Part-Year Residents and Nonresidents 51 52 7 Enter the percentage from line 30 of Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 12345678 52 53 53 54 8 Multiply line 6 by line 7. Enter the result here and on line 8 of Schedule M1C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 12345678 54 55 55 56 Include this schedule with your Form M1. 56 57 57 58 58 59 59 60 60 61 61 62 62 63 9995 63 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 8264 84 86 65 |
2023 Schedule M1CMD Instructions Am I eligible? If you are a licensed Minnesota teacher who completed a master of arts or science degree program in 2023, you may be eligible for a nonre- fundable credit up to $2,500. You qualify for the credit if all of these are true: • You began a master’s degree program after June 30, 2017. • Your master’s degree program did not include pedagogy or a pedagogy component. Pedagogy is the art, occupation, or practice of teach- ing. • You completed the master’s degree program in 2023 in a core content area directly related to your licensure field. Core content areas include reading, English or language arts, mathematics, science, foreign languages, civics and government, economics, arts, history, and geography. • You held a Minnesota teaching license issued by the Minnesota Professional Educator Licensing and Standards Board (PELSB) when you began and completed the master’s degree program. • You paid for tuition or required fees, books, or instructional materials for your master’s degree program. If you are a part-year resident or nonresident, you may be eligible for this credit based on your percentage of income taxable to Minnesota. Do I need proof of my expenses? Yes. Save transcripts and detailed records of payments (such as student account statements) for tuition and required fees, books, and instruc- tional materials. We may ask for these records if we have questions. Who is a qualified teacher? A qualified teacher is any person with a teaching license issued by the PELSB. To qualify, you must have a teaching license when you began and completed the master’s degree program. What expenses qualify? Qualifying expenses include all tuition and required fees, books, and instructional materials purchased for your master’s degree program. You can include expenses for which you received scholarships or employer reimbursement, but you must include the scholarships and reim- bursement on lines 2 and 3. Can I qualify for this credit more than once? You may only claim this credit once for each master’s degree program completed in a core content area. What is a core content area? Core content areas are reading, English or language arts, mathematics, science, foreign languages, civics and government, economics, arts, history, and geography. Line Instructions Round amounts to the nearest whole dollar. Line 1 Enter the total amount you paid for tuition and required fees, books, and instructional materials for your master’s degree program. Include amounts you paid in prior years. Line 2 Enter the amounts you received in scholarships for your master’s degree program. Include amounts you received in prior years. Line 3 Enter the amounts you received in employer reimbursements for your master’s degree program. Include amounts you received in prior years. Line 6 The maximum credit amount is $2,500 for each degree. Questions? Need forms? Forms and information are available on our website at www.revenue.state.mn.us. If you have questions: • Visit our website at www.revenue.state.mn.us • Send us an email at individual.incometax@state.mn.us • Call us at 651-296-3781 or 1-800-652-9094 |