Can I use my account to pay for K-12 tuition?

Yes, but there are state tax implications in Oregon. As of January 1, 2018, the IRS allows you to withdraw funds from your account tax free for tuition (up to $10,000 annually) at any public, private, or religious elementary or secondary school. But, although the federal tax break on money saved for K-12 tuition still applies, new state legislation has been passed that takes away the tax advantages of distributions made for K-12 education. Taxpayers will need to add back to their taxable income any amount of their K-12 distribution that received the Oregon state income tax deduction and any earnings on that distribution will also need to be claimed on their Oregon income taxes.