Comments on: How To Use A 529 Plan For Private Elementary And High School https://thecollegeinvestor.com/21959/529-plan-private-school/ Navigating Money And Education Wed, 13 Nov 2024 05:24:17 +0000 hourly 1 By: Robert Farrington https://thecollegeinvestor.com/21959/529-plan-private-school/#comment-481629 Wed, 13 Nov 2024 05:24:17 +0000 https://thecollegeinvestor.com/?p=21959#comment-481629 In reply to Paul Willigan.

Colorado does not allow 529 plans to be used for K-12 tuition (see Colorado 529 plan rules). With that being said, it would be considered a non-qualified withdrawal, and you’d owe taxes on the amount used. You’d also be subject to recapture of any CO tax deductions received for contributions (but you may not have any).

]]> By: Paul Willigan https://thecollegeinvestor.com/21959/529-plan-private-school/#comment-481626 Tue, 12 Nov 2024 22:36:44 +0000 https://thecollegeinvestor.com/?p=21959#comment-481626 hey Robert, looking to use 529 funds for my ASD daughter in Colorado. We setup the 529 plan for her over 10-years ago in Connecticut and moved to Colorado last year. She is in 8th grade and will be entering high school next year here in Colorado. What would the federal state and tax effects be if funds are withdrawn for her high school tuition at a special needs school?

Thanks

]]> By: Robert Farrington https://thecollegeinvestor.com/21959/529-plan-private-school/#comment-481081 Mon, 12 Aug 2024 17:34:33 +0000 https://thecollegeinvestor.com/?p=21959#comment-481081 In reply to Patty.

Tuition is the only qualified expense for K-12 education.

]]> By: Patty https://thecollegeinvestor.com/21959/529-plan-private-school/#comment-481080 Mon, 12 Aug 2024 17:33:28 +0000 https://thecollegeinvestor.com/?p=21959#comment-481080 Hi Robert,
529 Elementary…tuition only…I’ve read school uniforms if they are required can be included as a qualified expense.
Would that be true or not true?
Thank you.

]]> By: Robert Farrington https://thecollegeinvestor.com/21959/529-plan-private-school/#comment-481079 Mon, 12 Aug 2024 13:13:54 +0000 https://thecollegeinvestor.com/?p=21959#comment-481079 In reply to Catherine.

Oh NY and NJ is a mess for this stuff. Yes, you can open a NJ 529 plan, receive the NJ benefits because you file a NJ return, and follow NJ 529 plan rules.

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