Welcome to the New Morningstar.comSee what's new
The Short Answer

529 Accounts: Not Just for College Savings Anymore?

Karen Wallace

The House and Senate are working to reconcile a proposed tax reform bill, which includes a section that would expand 529 allowable educational expenses to include K-12 tuition. 

Currently only qualified higher education expenses are eligible for penalty-free, tax-favored withdrawals; now, if the bill passes as is, up to $10,000 per year, per beneficiary could be used for tuition expenses "in connection with the enrollment or attendance of the beneficiary as an elementary or secondary school student at a public, private, or religious school."