The NY 529 Plan has a $5k ($10k couples) tax deduction per year. Can I invest in another states 529 plan and then annually rollover $10k into the NY Plan in order to claim the $10k tax deduction each year?
Yes.
amounts transferred from an account in a college savings plan established byanother state under section 529 of the Internal Revenue Code (IRC) (529 Plan) to theNew York State College Choice Tuition Savings Program (New York 529 Plan) canbe deducted pursuant to section 612(c)(32) of the Tax Law in determining New Yorkadjusted gross income.