Drake Tax - NY: IT-272 and Federal Tuition Credit Deductions

Article #: 11835

Last Updated: October 18, 2024

 


Tags: Drake Tax

Drake Tax logo

Federal Tuition Credit Deductions and NY Form IT-272

You do not need to add back the federal tuition and fees deduction. Per the IT-272 instructions, taxpayers are allowed both the federal tuition and fees deduction and the IT-272 credit or deduction:

"You can claim the New York credit or deduction even if you claim a federal credit or deduction for qualified college tuition expenses. There is no limit on the number of eligible students for whom you may claim a credit or deduction. You may claim either the credit or the deduction but not both.

...

Only expenses for undergraduate enrollment or attendance qualify."

If the student attended more than one college during the tax year, see Drake Tax - NY: Form IT-272 or IT-203-B: Student Attended Two or More Colleges