New York 529 Tax Deduction Calculator

2026 rules

Enter your contribution to see how much New York lets you deduct and what it saves you this year.

Your numbers

Filing status

Contribution per child this year

Children (beneficiaries) you contribute for

Household AGI

Result

New York tax saved$270

Total contributed$5,000
Deductible this year$5,000
New York tax saved this year$270
Saved per $1,000 deducted$54.00

New York treats K-12 tuition withdrawals as nonqualified, which recaptures the deduction.

New York at a glance

Benefit: New York lets you deduct up to $5,000 ($10,000 joint) of contributions to NY 529 (Direct or Advisor-Guided) each year.
Plans that count: NY 529 (Direct or Advisor-Guided).
Good to know: New York treats K-12 tuition withdrawals as nonqualified, which recaptures the deduction.

Questions

Is there a New York tax deduction for 529 contributions in 2026?

New York lets you deduct up to $5,000 ($10,000 joint) of contributions to NY 529 (Direct or Advisor-Guided) each year.

What can 529 money pay for without tax?

College tuition, fees, books, and room and board for students enrolled at least half time; up to $20,000 a year of K-12 tuition and expenses from 2026; apprenticeship costs; and up to $10,000 of student loan payments over a lifetime. States can treat some of these differently.

What happens to the New York deduction if I withdraw for something else?

A nonqualified withdrawal is taxed on its earnings, plus a 10% federal penalty, and New York can add back the deductions you took on the money you withdraw.