Lacerte 529 QTPs Elementary and Secondary Education Expenses

Lacerte limits deduction to one $10,000 per taxpayer based on IRS Tax Topics 313:

Qualified higher education expenses include tuition expenses in connection with a designated beneficiary's enrollment or attendance at an elementary or secondary public, private, or religious school, i.e. kindergarten through grade 12, up to a total amount of $10,000 per year from all of the designated beneficiary's QTPs. It also includes expenses for fees, books, supplies, and equipment required for the participation in an apprenticeship program registered and certified with the Secretary of Labor and qualified education loan repayments in limited amounts.

The Lacerte QTP worksheet for the computation indicates the $10,000 per taxpayer limit on line 3. Lacerte has indicated this is their rationale for the limitation.

The text of Code Section 528(e)(3)(A):

529(e)(3)(A)In General

The term “qualified higher education expenses” means—

529(e)(3)(A)(i) 

Tuition, fees, books, supplies, and equipment required for the enrollment or attendance of a designated beneficiary at an eligible educational institution,

529(e)(3)(A)(ii) 

Expenses for special needs services in the case of a special needs beneficiary which are incurred in connection with such enrollment or attendance, and

529(e)(3)(A)(iii) 

Expenses for the purchase of computer or peripheral equipment (as defined in section 168(i)(2)(B)), computer software (as defined in section 197(e)(3)(B)), or Internet access and related services, if such equipment, software, or services are to be used primarily by the beneficiary during any of the years the beneficiary is enrolled at an eligible educational institution.

Clause (iii) shall not include expenses for computer software designed for sports, games, or hobbies unless the software is predominantly educational in nature. The amount of cash distributions from all qualified tuition programs described in subsection (b)(1)(A)(ii) with respect to a beneficiary during any taxable year shall, in the aggregate, include not more than $10,000 in expenses described in subsection (c)(7) incurred during the taxable year.

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