Bright Start 529
Good evening. Spoke to you on the radio briefly today about 529’s. I have a bright start 529 for my daughters. Under the secure act it says that you can use your 529 for grammar school and high school. But does bright start Illinois allow you to do this or do they consider it an early withdrawal and you would have to pay taxes on the money because it is not being used for college. Thanks you for your time and know.
Terry Says
I researched it after the show and it appears that Illinois does NOT allow the 529 to be used for anything but college expenses. But that’s ok — the money should keep growing tax-free for as long as possible. Use other money for lower school.
