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Parents wanting to send their children to private K-12 schools have a new financial tool to help with the high costs. New Tax Law Lets Families Tap Into 529 Plans for Private K-12 Education Skip ...
While 529 plans were originally created to help pay for college expenses, the plans can now be used for tuition expenses at private schools for grades K-12. Recent tax changes permitted 529 plans ...
While 529 plans are generally associated with university education, they can also be used for private primary and secondary schools, too. So, if you’re paying tuition for grades K-12, you can ...
The Tax Cuts and Jobs Act of 2017 heavily expanded 529 plans to include K–12 public, private, and religious school tuition. The original plan, called the Cruz amendment, called for homeschool expenses to also qualify for 529 plans but due to the Byrd Rule in the Senate the homeschool expenses provision was stricken by the Senate ...
529 plans can be a great way to save for education expenses on a tax-free basis. ... Up to $10,000 in K-12 private education tuition expenses. Special needs services, provided that they are ...
Originally designed for college expenses, 529 plans can now be used for K-12 tuition at private schools and apprenticeship programs. Funding a 529 plan may have immediate tax benefits in some cases.
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