Mississippi's State Treasurer asks IRS to allow college savings for Pre-K
Mississippi State Treasurer Lynn Fitch wrote a letter to the IRS on November 5, 2018, asking the IRS to include preschool tuition as a qualified expense for 529 plans. The Tax Cuts and Jobs Act of 2017 expanded qualified expenses to include up to $10,000 per year per beneficiary in tuition for elementary and secondary schools. The IRS has proposed regulations that would limit the definition of elementary and secondary school to K-12, excluding Pre-K.
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