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| COVERDELL EDUCATION SAVINGS |
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The Coverdell Education Savings Account is an incentive to help parents and students save for education. Up to $2,000 may be contributed to a child's ESA each year. Earnings on contributions will be distributed tax free, provided that they are used to pay the beneficiary's elementary or secondary school or college education expenses.
Tax Benefits
Your contributions are not tax deductible; however, you do not have to pay taxes on the interest earned.
Contributions
$2,000 per beneficiary per year. The beneficiaries must be 18 years old or younger.
Distribution
Distributions for qualified education expenses are tax free.
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