How to add education fees or 529 expense into city tax form?

Forum|Forum|10 months ago
May 14, 2025
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I do not have W-4 forms for 2024 tax-year.

Now how could I add education fees and 529 expense into NYC city-tax form?

Which items could I make use of in the city-tax forms? Thanks.

SoCalGal21

When you say you have no W-4, do you mean you have no income to report to NY State or NYC? The NY State return has 2 Education deductions that can potentially lower NY State income. There are no NY City Education credits or deductions and there are no NY State credits.NY State residents can potentially deduction contributions to a New York's 529 College Savings Program. Individuals can deduct up to $5,000, and married couples filing jointly can deduct up to $10,000 against their NY State income.
Here's a more detailed breakdown:
- Tax Deduction: New York residents can deduct up to $5,000 of contributions to a 529 plan from their state income taxes each year.
- Married Filers Jointly: Married couples filing jointly can deduct up to $10,000 of contributions.
- Contribution Deadline: Contributions must be made by the end of the tax year (December 31st) to be eligible for the deduction.
- Eligibility: To claim the deduction, you must live and work in New York.
NY State credits for a NY state 529 contribution:
The form to claim the New York State 529 College Savings Program deduction is Form IT-201, Full-Year Resident Income Tax Return. You'll report your 529 contributions on Line 30 of Form IT-201.NY State Claim for College Tuition Credit or Itemized Deduction.
To claim the New York State College Tuition Credit or Itemized Deduction, you need to use Form IT-272, Claim for College Tuition Credit or Itemized Deduction.
- This will report to IT-201 line 68 or be added to your NY State Itemized Deductions.
- Both can potentially lower your NY State Income. There is no additional NY State refund for either of these.
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MythSaraLeeAuthor

@SoCalGal21 Thank you!

Thus only at "federal level" I could get the $5000 tax return, right?

Could this item apply to the NYS and NYC tax forms?

SoCalGal21

There is no Federal credit for contributing to a 529 account. There are federal Education Credits you can claim if you, your spouse or your dependent were in college, or a registered trade school or apprenticeship program that provides a Form 1098T. There are a lot of pieces required to claim a federal education credit, the income must be within a required range for your filing status, the expenses need to be larger than scholarships and 529 payments. The 2 Federal Education Credits are
the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC), both based on other required information, some of the credits will only lower federal taxes owed and others can potentially give an additional refund. Here are 2 links that explain the options.
What education tax credits are available? - TurboTax Support
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/education-tax-credits-available/L691dvlGB_US_en_US Available education tax credits are: the American Opportunity Tax Credit and the Lifetime Learning Credit. We'll check to see if you qualify for either ...
How do Education Tax Credits Work? - TurboTax - Intuit
https://turbotax.intuit.com/tax-tips/college-and-education/what-are-education-tax-credits/L7TuLrVqZ**Say "Thanks" by clicking the thumb icon in a post
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ttlc.intuit.com

What education tax credits are available?

Two available education tax credits are: the American Opportunity Tax Credit and the Lifetime Learning Credit. We'll check to see if you qualify for either of t

Feb 21st

turbotax.intuit.com

How do Education Tax Credits Work?

Education tax credits like the American Opportunity Credit and Lifetime Learning Credit can significantly reduce the amount you owe in taxes. If you attend a college or trade school, you may be eligible to claim an education tax credit. Learn more about the different types of education tax credits, how they work, and whether you qualify.

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FranklinF

In New York, if you're making deductions for contributions to a 529 plan on your tax returns, here's how to do it:

For Form IT-201 (Resident Income Tax Return), enter your 529 plan contributions on line 30.

For those using Form IT-203 (Nonresident and Part-Year Resident Income Tax Return), you should record your 529 contributions in the Federal amount column of line 29. Additionally, sum up the amounts from lines 10 and 14, column B, of Form IT-225, and enter this total in the New York State amount column of line 29.

IT-201: NY Resident Income Tax Return

IT-203: NY Nonresident and Part-Year Resident Income Tax Return

IT-225: New York State Modifications

I am hoping you found the above information helpful.

Kind Regards,
Franklin
TurboTax Expert

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