TurboTax FAQ
TurboTax FAQ

2015 New York: 529 College Savings Program

New York allows a taxpayer and account owner of a 529 College Savings Plan a deduction of up to $5,000 ($10,000 if you’re married filing joint) on your state tax return.
Certain New York taxpayers, who made current year 529 College Savings Program contributions and/or had carryover contributions from prior year(s) for that program, may have filed an incorrect state tax return.

TurboTax has fixed this issue.  

How to tell if you may be impacted:

You may be affected if all of the following apply to you:

  • You filed your New York tax return prior to April 28, 2016 AND
  • In the TurboTax interview, you entered an amount for New York 529 College Savings contributions, and/or had prior year 529 College Savings contributions carried over to 2015 AND
  • Then entered a “0” as the amount of your New York 529 Nonqualified Withdrawals from this plan
If you are affected, you may have overpaid your state tax.  You may need to amend your New York state return.

To amend your return:

  • Follow these amend instructions for the TurboTax CD Download product.  
  • Follow these amend instructions for the TurboTax Online product.
  • After you make the changes to your tax return, you will need to mail a copy of your amended state return.
  • Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about: 2015 New York: 529 College Savings Program.