The Tax Cuts and Jobs Act expanded what education expenses can be paid for with 529 accounts by including private-school tuition.
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Although the Tax Cuts and Jobs Act expanded what educational expenses can be paid for with these accounts by including private-school tuition, an amendment to extend the change to home-schooling expenses was axed at the last minute, after Democrats successfully challenged it for violating Senate rules.
The provision in the tax bill that expanded the use of these accounts allows up to $10,000 annually to go toward costs associated with tuition for elementary through high school at "public, private or religious school" beginning this year.more details click here
Sarah O'Brien | @sarahtgobrien
Special to CNBC.com
