If a taxpayer contributes to a New York 529 College Savings plan, a portion of the contribution can be subtracted from income on the New York return. Contributions up to $5,000 per year are eligible for a New York state income tax deduction for those filing a single return, and up to $10,000 per year for those filling a joint return.
To enter the deductible portion of the contributions in TaxSlayer Pro, from the New York Tax Return Menu select:
- New York Taxable Income
- New York Subtractions from Federal AGI
- College choice tuition savings deduction - Enter the deductible amount of the contribution that the taxpayer made to the plan, up to $10,000 for married filers and up to $5,000 for all others.
Additional Information:
New York State Tax Information
New York's 529 College Savings Program
TaxSlayer Pro strives to keep the information on this page timely and accurate but makes no promise or guarantee about the timeliness, accuracy, or completeness of the contents of this page. This is general information and is not intended to be tax advice. You are encouraged to also review the underlying state resources and publications.