Investments

Coverdell Education Savings Account (CESA)

• Contribution limits are $2,000 per child.
• May be used for eligible elementary, secondary and post secondary school expenses
• Nonindividuals such as corporations, may act as contributors. (No income limits)
• Contribution deadline is extended from Dec. 31, to April 15 of the following year.
• Contributions and distributions from CESA's and prepaid tuition programs may be used in the same year.
• CESA distributions may be taken in the same year that a HOPE Scholarship and lifetime learning credit is claimed.
• Phaseout range for married taxpayers filing jointly is $190,000 to $220,000
• Age 18 and age 30 requirements no longer apply to children or beneficiaries with special needs.

Please consult with your tax advisor before opening a CESA.