Parents who double as their children's teacher would get to use money in 529 savings plans for their home-schooling expenses, under legislation recently introduced in Congress.
Two new measures would allow 529 plan withdrawals to pay for home-schooling expenses. Although the Tax Cuts and Jobs Act expanded what educational expenses can be paid for with these accounts by including private-school tuition, an amendment to extend the change to home-schooling expenses was axed at the last minute, after Democrats successfully challenged it for violating Senate rules.
"Our [new] legislation will make sure home-school families have the same opportunities and resources that every other student has," Rep. Luke Messer, R-Ind., said in a statement regarding H.R. 4862. He introduced the bill late last week.
Messer's bill would let families use the money to cover home-schooling expenses such as curriculum and materials, books, education therapies for students with special needs, and tuition for tutoring or classes outside the home.