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Good News for 529 Plan Account Owners

Good News for 529 Plan Account Owners

On December 22, 2017, the president signed new tax legislation that included a provision that permits 529 plan account owners to use assets to pay for qualified K-12 tuition expenses up to $10,000 per year, per student. Account owners can treat qualified K-12 withdrawals as qualified expenses with respect to the federal and Pennsylvania state tax benefits.  For additional guidance on this new provision, please consult a qualified tax advisor about your personal situation.