Raid the College Fund to Pay for K-12 Tuition?

Before you start using your 529 plan to pay private-school tuition, check with your state’s plan.

(Image credit: (C) Floresco Images ((C) Floresco Images (Photographer) - [None])

Until recently, 529 college-savings plans offered tax-free withdrawals only when the money was used for qualified college education expenses. But under the federal tax overhaul enacted at the end of 2017, parents can withdraw up to $10,000 tax-free from a 529 plan each year to pay for private-school tuition for kindergarten through 12th grade.

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Kaitlin Pitsker
Associate Editor, Kiplinger's Personal Finance
Pitsker joined Kiplinger in the summer of 2012. Previously, she interned at the Post-Standard newspaper in Syracuse, N.Y., and with Chronogram magazine in Kingston, N.Y. She holds a BS in magazine journalism from Syracuse University's S.I. Newhouse School of Public Communications.