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snopro22
February 2, 2025
Question

I have a ny 529 plan for my two kids. I deposited $10,000 in each acct in 2024. It says up to 10 grand can be state tax differed is that 10 thousand per child or total ?

  • February 2, 2025
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    A
    AnnetteB6
    February 2, 2025

    It is $10,000 total.

     

    If you are filing a Married Filing Joint tax return, then you can deduct no more than $10,000 of contributions to the NY 529 plan.  The limit is a maximum of $5000 if not filing a joint return.

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