Distributions from 529 for International School (Elementary School)

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dadipsite
Posts: 52
Joined: Mon Apr 09, 2012 10:55 am

Distributions from 529 for International School (Elementary School)

Post by dadipsite » Wed Apr 17, 2019 8:46 pm

With the change in 529 laws, I was wondering if it is possible to take distributions for International Schools in S. Korea. Does anyone know how I may check to make sure and what the procedure for draw-down would be? First time for us to take a distribution... so not really sure.

Also, what kind of documentation should we retain for tax purposes?

Thanks.

sailaway
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Joined: Fri May 12, 2017 1:11 pm

Re: Distributions from 529 for International School (Elementary School)

Post by sailaway » Wed Apr 17, 2019 8:57 pm

Have you searched for the school in question?

https://www.savingforcollege.com/eligible_institutions/

DIFAR31
Posts: 309
Joined: Mon Jan 01, 2018 5:51 pm

Re: Distributions from 529 for International School (Elementary School)

Post by DIFAR31 » Wed Apr 17, 2019 9:30 pm

Find out if the school is eligible to participate in a student aid program administered by the U.S. Department of Education. That will be the key factor.

Edited to add: it's not clear if you are asking about postsecondary school (college) or elementary or secondary school. The above pertains to postsecondary school.

Topic Author
dadipsite
Posts: 52
Joined: Mon Apr 09, 2012 10:55 am

Re: Distributions from 529 for International School (Elementary School)

Post by dadipsite » Thu Apr 18, 2019 4:00 am

Is there a list for elementary schools too? For kids under 10 years.

Topic Author
dadipsite
Posts: 52
Joined: Mon Apr 09, 2012 10:55 am

Re: Distributions from 529 for International School (Elementary School)

Post by dadipsite » Thu Apr 18, 2019 4:00 am

Is there a list for elementary schools too? For kids under 10 years.

motorcyclesarecool
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Joined: Sun Dec 14, 2014 7:39 am

Re: Distributions from 529 for International School (Elementary School)

Post by motorcyclesarecool » Thu Apr 18, 2019 5:20 am

Much depends on the laws in your state. Mine wasn’t happy with the TCJA changes and the official 529 website threatens clawback of the state tax credit if one uses it for K-12 tuition. Of course, it has no objection or clawback if I annually roll the funds to a different state 529 that is cool with K-12 tuition... 🤔
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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