The major tax reform law that passed Congress in mid-December 2017 included a provision expanding the use of 529 plans—tax free savings accounts that allow parents to put away money for their children’s college education. Now, they can be used for elementary and secondary education too.
This site is intended to provide families with information on the use of 529 plans to fund K-12 education. It is an informational resource and should not be considered as guidance for tax planning. Please consult a tax professional for tax planning advice related to this topic.
This site, including FAQs, explains the new law, when it is effective, where you can find information on 529 plans in your state, the rules that apply to 529 accounts, who can contribute to a child’s 529 account, and many other key questions.
The FAQ also direct you to resources to find out whether additional state tax provisions may apply. This will vary by state, and presently is in flux as states decide whether to conform with recent federal tax changes.
We hope this resource is helpful to you.