What are Refunded Section 529 College Savings Contributions?

If you closed a New Mexico-approved Section 529 college savings plan account, enter the amount of refunded contributions you received during the tax year from this account.

Enter contributions rolled over from a New Mexico-approved Section 529 college savings plan account to a Section 529 college savings plan account that was not approved by New Mexico. Do this only if you deducted these contributions on Schedule PIT-ADJ from an earlier New Mexico personal income tax return.

Do NOT include earnings refunded to the investor, earnings rolled over from a New Mexico-approved Section 529 college savings plan account to a Section 529 college savings plan that was not approved by New Mexico, or qualified distributions from the account.

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