COVERDELL EDUCATION SAVINGS ACCOUNTS (FORMERLY EDUCATION IRAS)
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The Coverdell education savings account is a relatively new way to save money for a child's qualifying education expenses. It uses tax-free growth of money to fund a child?s education. This tutorial will cover the following topics:
? Contribution rules
? Penalties on non-qualified withdrawals
? Rollovers between Coverdell education savings accounts
First, read about how (and how much) you may contribute to a child?s Coverdell account.