Do I need to itemize to deduct a 529 contribution in NY?

TMON · ‎March 20, 2023

Hi - Just trying to prepare for next year's taxes. Does anyone know if NY requires you to itemize in order to deduct contributions to their direct plan?

Sam

MinhT1 · ‎March 20, 2023

No, you do not need to itemize your deductions.

Contributions to a New York 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing New York taxable income. Only contributions made by the account owner, or if filing jointly, by the account owner's spouse, are deductible.

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MinhT1 · ‎March 20, 2023

No, you do not need to itemize your deductions.

Contributions to a New York 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing New York taxable income. Only contributions made by the account owner, or if filing jointly, by the account owner's spouse, are deductible.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Do I need to itemize to deduct a 529 contribution in NY?