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West Virginia clarifies tax treatment of 529 Distributions for private K-12 expenses
In 2017 Congress passed a law that included expanding the definition of qualified education expenses in Section 529 of the Internal Revenue Code to include expenses for tuition for private K-12 up to $10,000 per year per student.

Distributions from 529 Plans for private K-12 up to $10,000 per year are free from both Federal and WV State Tax. Non-qualified withdrawals are taxable as ordinary income to the extent of earnings and may also be subject to a 10% federal income tax penalty. Such withdrawals may have state income tax implications.

As always, we encourage you to consult a qualified tax advisor about your personal situation.

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