MN SF29

Allows taxpayers to deduct the full amount of taxable Social Security benefits received, eliminating current dollar caps on the subtraction.

Removes previous maximum subtraction limits of $5,150 for joint filers and $4,020 for single filers under Minnesota Statutes section 290.0132, subdivision 26.

Maintains the phase-out structure based on provisional income, with reductions of 20 percent for income exceeding threshold amounts ($78,180 for joint filers, $61,080 for single filers).

Applies to taxable years beginning after December 31, 2022.