DawnC
Employee Tax Expert

Education

Your max is $10K ($5k for each spouse) to a family tuition account.  It is not per child, but per family.   Contributions can be made to the New York 529 College Savings Program by the account owner to one or more tuition savings account(s) established under the New York program. If the contributions were not deductible or eligible for a credit for federal income tax purposes, contributions may be deducted from New York State income (up to a limit of $5,000).

 

A husband and wife, who are each account owners, may each deduct up to $5,000 of contributions to a family tuition account. However, one spouse may not claim any unused portion of the other spouse's deduction.  NY 529 deductions   This is how TurboTax reports your deduction on the NY return.  

 

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