On December 18, 2015, Congress approved the “Protecting Americans from Tax Hikes (PATH) Act of 2015”, which includes provisions that impact 529 plans. President Barack Obama signed the bill into law the same day.
Previously, 529 rules treated computers as a Qualified Higher Education Expense only if the beneficiary’s college required them as a condition of enrollment or attendance. Under the new law, computer equipment and related hardware qualify even if they are not specifically required by the university, college, or technical school the beneficiary attends, although they must be used primarily by the beneficiary while enrolled in school. …Read More