Coverdell Savings account Changes
I understand that the tuition for Private schools for High School was to expire after 2012, but with the changes that occured at the end of 2010 did this utilization get changed so that it actually expired 12-31-2010 or is it still useful thru the end of 2012?
Permalink Submitted by Alan Spross on Mon, 2011-01-10 21:45
These provisions have been extended through 2012. From the CCH tax summary of the Dec tax bill:
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Coverdell Education Savings
Accounts
EGTRRA increased the maximum contribution
amount to a Coverdell Education
Savings Account (ESA) from $500 to
$2,000 and, among other things, made elementary
and secondary school expenses, in
addition to post-secondary school expenses,
qualifi ed expenses. Th ese enhancements
were scheduled to sunset after 2010. Th e
2010 Tax Relief Act extends them for two
years, through December 31, 2012.
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