Per the New York 529 College Savings Program, "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 when you file your state income taxes."
Follow these steps to enter the 1099-Q in TurboTax:
- Open or continue your return.
- Go to Form 1099-Q.
- Follow the screens to enter your info.
Once you have enter the 1099-Q, the information will transfer over to your state return.
See the link below for more information:
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