Will 529 Plans withdrawals for K-12 private school expenses qualify as Pennsylvania tax-free?

Will 529 Plans withdrawals for K-12 private school expenses qualify as Pennsylvania tax-free?

by Peter N. Calcara | Jan 25, 2018
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Has the Pennsylvania Department of Revenue addressed whether withdrawals from 529 Plans for K-12 private school expenses will be treated as qualified, Pennsylvania tax-free withdrawals to be in line with the new federal laws?

According to the Pennsylvania Department of Revenue, state law works the same as before and allows the deduction for expanded 529 savings plans.

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Answered by: Peter N. Calcara, CAE, vice president of PICPA’s government relations team.

Disclaimer
The responses are based on the limited information provided by the questioner and apply the laws and regulations at the time of posting. Other options could arise as rules and regulations may change over time, including but not limited to the passage of the Tax Cuts and Jobs Act of 2017. They are intended to provide general information, not specific accounting or tax advice; they are not intended or written to be used and cannot be used for the purpose of avoiding or evading taxes or penalties under the IRS code or regulations. Views expressed do not imply an opinion of the PICPA, its officers, directors, employees, or members.
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