33.10 Contributing to a Coverdell Education Savings Account (ESA)
A Coverdell Education Savings Account, or ESA, is a trust or custodial account set up specifically for the purpose of paying the qualified education expenses of the designated beneficiary of the account. A contribution cannot be made for a beneficiary after he or she reaches age 18 unless the beneficiary is a special needs beneficiary, as discussed below. Contributions must be in cash. Coverdell Education Savings Accounts were formerly known as Education IRAs.
Contribution deadline.
The deadline for making a contribution for any year is the due date of your return for that year (not including extensions). You can make a contribution to a Coverdell ESA up until April 15, 2013, and designate it as a contribution for 2012.
Contribution limit for 2012.
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