My son paid for college with distributions from his NYS 529 plan.
He had income of $30,000, took $40,000 out of his 529 plan; so his New York AGI is -$10,000? Can that possibly be right? It seems way too good to be true.
If so, then I screwed up his last two returns and have to file amendments. What is the time limit, 3 years from filing date?