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Coverdell Education Savings Account
(redirected from Coverdell ESA)

    Also found in: Wikipedia 0.07 sec.
Coverdell Education Savings Account
A special individual retirement account opened on behalf of a child under age 18. Contributions of up to $2,000 annually may be made by anyone who meets specified income limits. Contributions are not tax-deductible, but earnings grow tax-deferred until withdrawn. Money withdrawn prior to the child turning age 30 to pay for elementary, secondary, or postsecondary education expenses after high school is not subject to federal income tax. Formerly called Education IRA.


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The annual contribution for Coverdell ESAs is $2,000 per beneficiary.
Paying for college by Brown, Carolyn M. / Black Enterprise
Beneficiaries may have contributions made to both a Coverdell ESA and a state tuition program in the same year.
Tax Season Toolkit: everything you need for the most wonderful time ... by California CPA
Unlike most other education plans, the Coverdell ESA covers the QEEs of a beneficiary attending elementary or secondary school (i.
Coverdell ESAs: a viable alternative to qualified tuition plans by Packard, Pamela / The Tax Adviser
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