Contributions to a 529 are after-tax and not federally tax deductible. You report your contribution on your state return.
To report your contribution:
- Open NY return.
- Continue to the screen Changes to Federal Income.
- In the Education Adjustment section, clock start next to NY 529 College Savings Account Activity.
If you're a New York State taxpayer and an account owner, you may be able to deduct up to $5,000 ($10,000 if you're married filing jointly) of your Direct Plan contributions
NY 529 college savings program
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