Where do I deduct the contributions to a 529 Plan on my federal tax return?
Answer:
Contributions to a 529 Plan for your child's education are not deductible on the federal return. However, some states like NY do allow a deduction for contributions to a 529 plan. The advantage of making contributions to a 529 plan are that the earnings in the plan will not be taxed if the distributions are made for qualified educational purposes.
