New York's 529 college savings program transfers
If you transferred funds from New York's 529 college savings program to another state's program (whether for the same beneficiary or for the benefit of another family member), then include the amount from line 7 of the worksheet below.
Include the applicable amounts from all existing accounts you own on lines 1 through 7 of the worksheet below. Do not include amounts applicable to accounts that were closed in a prior tax year. If you are filing a joint return, include the applicable amounts from all existing accounts owned by you and your spouse.
Please note: Before completing the worksheet below, you must first compute your Form IT150, line 19, subtraction for New York's 529 college savings program (S-2).
Do I qualify for the college tuition credit or itemized deduction?
To qualify for the college tuition credit or itemized deduction, you, your spouse, or your dependent(s) must be an undergraduate student enrolled at or attending an institution of higher education and have paid qualified college tuition expenses during the tax year. Only expenses for undergraduate enrollment or attendance qualify.
If you are a New York State nonresident or part-year resident, you do not qualify for the college tuition credit. However, you may be eligible to claim the New York college tuition itemized deduction if you itemized your deductions on your federal return. Do not complete Form IT-272. See the instructions for Form IT-203-B, Nonresident and Part-Year Resident Income Allocation and College
Tuition Itemized Deduction Worksheet.
If a student is claimed as a dependent on another person's New York State tax return, only the person who claims the student as a dependent may claim the credit or itemized deduction. If a student is not claimed as a dependent on another person's New York State tax return, the student may claim the credit or deduction.
Spouses Filing Separately
If you and your spouse are filing separate returns, you must each file a separate Form IT-272 to claim your credit or deduction. One spouse may claim the credit, and the other spouse may claim the itemized deduction. However, you must each claim your separately computed credit (or deduction) based only on the amount of qualified college tuition expenses you paid (or that were treated as if paid by you) for yourself, your spouse, or a person who you claim as a dependent on your separate return. You cannot claim expenses for a dependent claimed by your spouse.