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 Coverdell ESA Contribution Information Do Not Cut or 2023

5498 Esa 2023-2025 Form

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[Music] welcome to the college investor audio show where we talk about the biggest issues impacting Millennial money from student loan debt to side hustles to Building Wealth we will show you how to get out of debt so that you can build real wealth for the future college education savings accounts we talk about them today specifically the Coverdale contribution limit and how to bypass that pesky $2,000 limit let's do it all right so the coverdell education savings account is a specialized account for saving for K through 12 and college educational expenses similar in some ways to the 529 College savings plans there are however several important differences one is that contributions to coverdell education savings accounts are limited to two grand a year from all sources unlike 529 College savings plans 529s do not have an annual contribution limit other than the annual gift tax exclusion and allow lumpsum contributions up to five times the annual limit using 5-year gift tax aver

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