529 Contribution Limits 2024 Nyc

529 Contribution Limits 2024 Nyc. New york offers a state tax deduction for contributions to a 529 plan of up to $5,000 for single filers and $10,000 for married filing jointly tax filers. Most experts expected that a new rule, which allows money saved in a 529 college savings plan to roll into a roth individual retirement account, would help increase interest.

Ny’s 529 direct plan has some of the lowest costs available for 529 plans. In 2023, you can contribute up to $17,000 to a 529 plan ($34,000 as a married couple filing jointly) and qualify for the annual gift tax exclusion, which lets you avoid the gift tax.