Coverdell Education Savings Account (LO. 10) Alex and Carminare married and have two children, ages...
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Coverdell Education Savings Account (LO. 10) Alex and Carminare married and have two children, ages 6 and 3. Their adjusted gross income for the year is $115,600 The total amount contributed to an individual's Coverdell Education Savings Account is limited to $ 2,000 If their adjusted gross income is $205,900, the maximum contribution that can be made to each child's education savings account is (Hint: The amount an individual can contribute to a CESA is phased out ratably for married taxpayers filing a joint return with adjusted gross income between $190,000 and $220,000.)
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