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Savings and Investments
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Individual Retirement Accounts
What is the Coverdell Savings Account?
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KBID
635
Date Created:
4/30/2003
Date Modified:
12/9/2003
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The Coverdell Savings Account, also known as the Education IRA, allows parents to contribute savings (up to $2000 per child) for their child's education. Withdrawals for qualified education expenses are tax-free. Qualified expenses may include: tuition, fees, books, computer equipment and technology required for elementary, secondary and post-secondary education.
Related Content
What happens to a Coverdell Education Savings Account if assets are not used when the designated beneficiary reaches 30?
Are distributions from a Coverdell Education Savings Account taxable?
How can I help my child learn to save?
If distributions from a Coverdell Education Savings Account are not used to pay for my qualified education expenses, will I be taxed on them?
What is a Coverdell Education Savings Account and who's eligible to contribute? What are qualified higher education expenses?
What are the tax issues relating to a Coverdell Education Savings Account?
What is an IRA?
All information provided through this site is intended to be accurate. However, there may be inaccuracies at times, which we will make every attempt to correct when found. Information provided is intended to assist you in making decisions and does not eliminate the need to discuss your particular circumstances with a qualified professional.
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Security Question:
Name of High School graduated from
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Pet's name
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What city were you born in?
On what street did you grow up?
What is your mother's maiden name?
What was your high school mascot?
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WARNING:
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Retype Password
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First Name
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Last Name
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Birthdate
(mm/dd/yyyy)
You must enter a birthdate.
The birthdate entered is invalid.
The birthdate entered is invalid.
Company
WARNING:
Password Security Question
Name of High School graduated from
Last name of favorite teacher
Son's middle name
Daughter's middle name
Pet's name
Square footage of home
First girlfriend's/boyfriend's name
What city were you born in?
On what street did you grow up?
What is your mother's maiden name?
What was your high school mascot?
Password Security Answer
You must provide an answer to the password security question in order to recover your password if lost.
Favorite Color
To improve security, you must provide a favorite color.
Terms of Use
I agree to the terms of use.
Progressions values your privacy and will protect your information. We will not sell or share your information with anyone outside of Progressions. In addition, when setting up your profile, you will be given the option to opt-out of receiving any promotional information from us via email. We thank you for taking the time to register with us.
Your inquiry is being encrypted to protect your privacy.