Coverdell Education Savings Account
Qualifying members may elect to invest up to $2,000 per child (does not need to be a relative), per year.
- Contributions are not tax deductible.
- Withdraw funds tax free and IRS penalty free for qualifying educational expenses up to age 30.
- Earnings not used by age 30 will become taxable and subject to the 10% IRS penalty tax.
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