In New York, if you're making deductions for contributions to a 529 plan on your tax returns, here's how to do it:
- For Form IT-201 (Resident Income Tax Return), enter your 529 plan contributions on line 30.
- For those using Form IT-203 (Nonresident and Part-Year Resident Income Tax Return), you should record your 529 contributions in the Federal amount column of line 29. Additionally, sum up the amounts from lines 10 and 14, column B, of Form IT-225, and enter this total in the New York State amount column of line 29.
IT-201: NY Resident Income Tax Return
IT-203: NY Nonresident and Part-Year Resident Income Tax Return
IT-225: New York State Modifications
I am hoping you found the above information helpful.
Kind Regards,
Franklin
TurboTax Expert
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