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Level 5
March 7, 2023
Question

Can you deduct a 529 contribution on an IT203 NY nonresident return? I am getting conflicting answers when I research the topic

  • March 7, 2023
  • 2 replies
  • 20 views
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2 replies

Camp1040
Level 10
March 7, 2023

You contribute to a 529 plan with after tax funds and then if the distributions meet the education use qualifications then the basis AND earnings are tax free. 

chiodoincAuthor
Level 5
March 8, 2023

Is there a box to mark for the earnings to be tax free if the distribution is used for education?

Accountant-Man
Level 13
March 8, 2023

I think it only works on a resident return. Is there a deduction line on the non-resident return?

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chiodoincAuthor
Level 5
March 8, 2023

Thank you.  There is a box but when I add the contribution but it doesn't populate it on return so I think it is disallowing it on a nonresident return.  The literature I could find was two years old so I wasn't sure if it was accurate.  I appreciate the feedback