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#Ny 529 eligible expenses full#
#Ny 529 eligible expenses software#

You can use a 529 plan to pay for qualified room and board expenses like rent, other housing costs, and meal plans. That means computer games, sports software, or any apps related to a hobby can’t be paid for using a 529 plan.

#Ny 529 eligible expenses software#

It’s important to note the IRS specifically states computer software that has nothing to do with your studies doesn’t count as a qualified expense. You can use your 529 plan to purchase a computer, “peripheral equipment” (like a mouse or speakers), computer software, or internet access.Īccording to the Internal Revenue Service (IRS), computers and internet access count as a qualified education expense as long as the beneficiary primarily uses that hardware (or internet access) while enrolled in an eligible institution. Unfortunately, if the extra books you’d like to buy aren’t on the class reading list, you won’t be able to use a 529 plan to pay for them. This may include course textbooks, lab materials, safety equipment, or anything else mandatory for your coursework.īy contrast, you can’t claim books and supplies that aren’t required.įor example, let’s say you’re taking a marine biology class, and you decide you’d like to do some additional reading on whales.

#Ny 529 eligible expenses full#

If books and supplies are required to participate in a class, the full cost of those books and supplies is considered a qualified expense. This includes public, private, and parochial schools. Thanks to the Tax Cuts and Jobs Act of 2017, families can also use a 529 plan to pay for up to $10,000 worth of tuition expenses per year at an elementary or secondary school. You can also use a 529 plan to pay for online college courses.Īs long as the college you’re enrolling in is an eligible institution (which means that the institution is eligible for Title IV federal student aid), you can use a 529 plan to pay for online tuition and fees.īut a 529 plan isn’t limited to just college or trade school tuition fees.

Public, private, or parochial elementary and secondary schoolĪttendance does not necessarily need to be physical.

The funds you accumulate in a 529 plan can be used to pay the full amount of your tuition and fees for: These expenses are usually considered qualified education expenses for 529 plan funds, with a few exceptions.

It’s worth noting the rules for some of these expenses are a bit more complicated than others.