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re: LA 529 Start Plan for HS Tuition
Posted on 2/13/24 at 1:35 pm to JohnnyKilroy
Posted on 2/13/24 at 1:35 pm to JohnnyKilroy
I have zero independent knowledge, but this is listed in the K12 FAQ:
Are there tax advantages to a START K12 account?
Yes, account owners may deposit and claim up to $2,400 for a joint filer and $1,200 for a single filer as a deduction to income on their Louisiana State Income Tax Return. All earnings on the account are tax deferred and if used for tuition expenses at an approved Louisiana school, the earnings are not taxable.
Are there tax advantages to a START K12 account?
Yes, account owners may deposit and claim up to $2,400 for a joint filer and $1,200 for a single filer as a deduction to income on their Louisiana State Income Tax Return. All earnings on the account are tax deferred and if used for tuition expenses at an approved Louisiana school, the earnings are not taxable.
2
Posted on 2/13/24 at 1:37 pm to Joshjrn
Oh damn nice.
Maybe I’m misremembering or maybe it has changed at some point recently but I remember not getting the state income tax deduction for contributions when I started one 3 years ago.
Maybe I’m misremembering or maybe it has changed at some point recently but I remember not getting the state income tax deduction for contributions when I started one 3 years ago.
Posted on 2/13/24 at 2:38 pm to Joshjrn
Being I'm sure it will come up later, this is the (seemingly outdated but currently linked to on the site) list of approved non-public schools: LINK
Someone else can do the digging to see if there's any difference between the classifications that matter, as long as it has "approved" at the end
Someone else can do the digging to see if there's any difference between the classifications that matter, as long as it has "approved" at the end
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