Should You Use a 529 Plan for K–12 Expenses?

Should You Use a 529 Plan for K–12 Expenses?

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[claytonrichardson]

I would love to see more content on paying for private K-12 school.

[Riverbend]

This highlight: about sending kids to private school

Me, someone with no kids and who went to public school: clicks anyway

[thegardencity]

I guess it's good but it should be tax deductible on the federal level, not just the state level. The maximum contribution in Illinois that's a tax deductible contribution is $10, 000 single, or $20, 000 jointly. That's only $500 or $1, 000 in state tax savings and you still pay federal income tax at your current federal tax bracket. It should work the same as the HSA that it reduces your annual taxable income, even if that means a lower contribution limit

[slimdawgwoof]

For those with special needs kids look into ABLE accounts, 529a. Similar to 529 but more flexible if your child is eligible

[kathylloyd]

I don't think anybody should be left out when going for digital assets

[bakervinci]

If you older child has a bunch of money in a fund after college graduation, why not use it for a younger sibling in a private k-12?