Formerly known as an 教育 爱尔兰共和军, a Coverdell 教育 储蓄 Account is a tax advantaged investment account for future education expenses (elementary, 二次, 或大学). Consult a tax professional for more information.
Designated beneficiaries with special needs:
The deadline to contribute to a Coverdell 教育 储蓄 Account (ESA) for a particular tax year is generally April 15 (or tax day) of the following year. When this date occurs on a weekend or a legal holiday, the following business day becomes the deadline. Tax return extensions will not affect this deadline.
When you contribute to your 爱尔兰共和军 between January 1 and April 15 (or tax day) for the previous tax year, it’s referred to as a “carryback” or “prior year” contribution.
For 2021, the deadline to contribute a carryback contribution is tax day, April 18, 2022.
The annual per-designated-beneficiary contribution limit is $2,000.
Qualified education expenses include college expenses and certain elementary and 二次 school expenses including:
几乎每个人都可以贡献. 有一个关键的限制:
Contributors don’t have to be family members. Corporations and other entities (including tax-exempt organizations) can also make contributions to Coverdell ESAs, regardless of the income of the corporation or entity during the year of the contribution.
With this broad range of potential contributors, it’s possible that more than one person may want to contribute for the same child. A coordinated effort should be encouraged to avoid excess contributions.
You can roll over funds from one Coverdell 教育 储蓄 Account (ESA) to a new or existing ESA. The funds, however, must benefit the same child or an eligible member of the child’s family. A rollover contribution doesn’t affect the annual contribution limit. Rollovers must be completed within 60 days of the initial distribution and are limited to one per 12-month period.
You can change the designated beneficiary. 例如, if the current beneficiary has finished school and there are funds remaining, a sibling can become the beneficiary. New beneficiaries must be an eligible family member:
Even with this extended range of family members, contributions only can be made for those younger than 18 years old.