• Anyone who has MAGI* 
• Single filer: up to $95,000
• Jointly income for filers: up to $190,000
  
• Some people with higher MAGI may be able to make smaller contributions
• Contributions not allowed after the beneficiary reached age 18 (except for special-needs beneficiaries)  

How much can I contribute?

• $2,000 per child
• Limit applies to all Coverdell Education Savings Accounts (ESA) for the same child

Who can make deductible contributions?

• No one can deduct contributions

What are the tax advantages?

• Withdrawals for certain qualified education expenses are tax-free
• Special-needs beneficiaries can withdraw funds tax-free to pay for qualified education expenses at any age
• Qualified education may include tuition, fees, books, computer equipment and technology required for elementary, secondary and post-secondary education
• A beneficiary may receive tax-free distribution from Coverdell ESA in the same year he or she claims the Lifetime Learning or HOPE Scholarship tax credits

When Can I withdraw without restrictions?

• Withdrawals are tax-and penalty-free only for qualified education expenses (earnings are subject to tax and penalty for most other withdrawals)
• Funds can be transferred from one child’s account to an account for another child in the family