The Short Answer

What If Your State Doesn't Allow 529 Withdrawals for K-12?

Karen Wallace, CFP®

The passage of the Tax Cuts and Jobs Act ushered in significant changes to 529 accounts. Before that, 529 plans were strictly college savings vehicles: Only qualified higher education expenses were eligible for penalty-free, tax-favored withdrawals.

Now, however, up to $10,000 per year, per beneficiary can 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."