Coverdell Education Savings Accounts

GPTKB entity

Predicate	Object
gptkbp:instanceOf	gptkb:tax-advantaged_savings_account
gptkbp:administeredBy	financial institutions
gptkbp:alsoKnownAs	gptkb:Coverdell_ESA
gptkbp:beneficiaryAgeLimitForContributions	under 18
gptkbp:canBeTransferredToAnotherBeneficiary	yes
gptkbp:canBeUsedForCollegeExpenses	yes
gptkbp:canBeUsedForK12Expenses	yes
gptkbp:contributionDeadline	tax filing deadline
gptkbp:contributionsAreTaxDeductible	no
gptkbp:country	gptkb:United_States
gptkbp:createdBy	gptkb:U.S._federal_government gptkb:Taxpayer_Relief_Act_of_1997
gptkbp:earningsGrowTaxFree	yes
gptkbp:fundsMustBeUsedByAge	30
gptkbp:incomeLimitForContributors	yes
gptkbp:incomeLimitJointFiler	$220,000
gptkbp:incomeLimitSingleFiler	$110,000
gptkbp:maximumContributionPerYear	$2,000 per beneficiary
gptkbp:namedAfter	gptkb:Paul_Coverdell
gptkbp:penaltyForNonQualifiedDistributions	10%
gptkbp:purpose	save for education expenses
gptkbp:qualifiedDistributionsAreTaxFree	yes
gptkbp:qualifiedExpensesInclude	gptkb:industrial_equipment books tuition fees supplies K-12 expenses college expenses
gptkbp:bfsParent	gptkb:IRS_Form_1099-Q gptkb:IRS_Form_5329
gptkbp:bfsLayer	6
https://www.w3.org/2000/01/rdf-schema#label	Coverdell Education Savings Accounts