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Financial Assistance May Be Coming Soon for Home Schoolers

The 2017 Tax Cuts & Jobs Act includes a provision allowing individuals to make use of funds previously deposited into a Section 529 qualified tuition plan to pay tuition expenses incurred during the tax year for designated beneficiaries enrolled at a public, private, or religious elementary or secondary school. The maximum annual amount that can be applied is $10,000. Though no provision currently exists in the tax code to allow such withdrawals to pay for costs associated with home schooling expenses a provision recently introduced in the House of Representatives intends to correct this (H. R. 4862). To learn more learn more about the bill and get alerts, click on this link (https://www.congress.gov/bill/115th-congress/house-bill/4862?r=24)

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