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1 An eligible institution is one that can participate in federal financial aid programs.
2 Expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school, not to exceed $10,000 per student per year in the aggregate across all 529 Plans for such student. Since different states have different tax provisions, if you or your beneficiary, as applicable, are not a Missouri taxpayer, the state(s) where you pay income tax may differ in its state income tax treatment of K-12 tuition expenses. You should consult your own state’s tax laws or your tax advisor for more information on your state’s taxation of withdrawals for K-12 tuition expenses.
3 Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes and recapture of MO tax deductions. Tax and other benefits are contingent on meeting other requirements and certain withdrawals are subject to federal, state, and local taxes.
