Education

AndreaC1 · ‎June 5, 2019

Contributions to a qualified college savings plan are not deductible on your federal return, but may be deductible on your state return. If your state allows a deduction, you will see the entry point as you work through the state return.

You can find more details here Information on 529 Plans

NOTE: 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. More details can be found here https://www.nysaves.org/home/why-ny-529-direct-plan/tax-benefits.html

NOTE: See screenshots for navigation assistance.

Where to enter in State portion of your return:

Log into your return and click orange Take me to my return button
Click on State Taxes and then Your State Returns right below that
If you have already entered your state, click Edit next to it and Continue
Then click Update/Start next to Adjustments to federal income under the Changes to Federal Income section.
On the next page, click Update/Start next to New York 529 college savings account activity and it will allow you to enter your contribution there