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Coverdell Education Cost savings Accounts (esa)

This article will analyze requirements for the Coverdell education accounts, contribution restrictions for these accounts and the taxes treatment of distributions.

Code Sec.Coverdell ESA accounts could be create as a custodial bank account or a trust for a specified beneficiary. You may open up a Coverdell ESA at any lender or organization approved to provide as a trustee or custodian. In 2002 the program was expanded in order that it can now be utilized to financing elementary and secondary education bills.