Save for K-12 Education with a 529

Tax reform measures passed in 2018 expanded the use of 529 plans to include K-12 tuition as a qualified expense.

You are now permitted to take 529 college savings plan distributions of up to $10,000 per beneficiary per year across all accounts for tuition at an elementary or secondary public, private, or religious school.It also permits rollovers from 529 plans to ABLE plans for the same beneficiary or a qualified family member.

+While distributions from 529 college savings plans for elementary or secondary education tuition expenses are federally tax-free, state tax treatment will vary and could include state income taxes assessed, the recapture of previously deducted amounts from state taxes, and/or state-level penalties. You should consult with a tax or legal advisor for additional information.