Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
Using 529 Plans for K-12 Private School Tuition
In this episode of The College Savings Podcast, Lucas and Luna explore how 529 plans can be used for K-12 private school tuition, a lesser-known provision from the Tax Cuts and Jobs Act of 2017. They break down the $10,000 annual limit per beneficiary, the distinction between public and private schools, and how this strategy interacts with state tax deductions. Lucas shares a concrete example: a family in New York contributing to a 529 plan for elementary school tuition and the potential state tax benefits. Luna asks about the timing of withdrawals and the risk of overfunding if the child…
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