As with a Roth IRA, you must include Coverdell Education Savings Account (ESA) contributions with your income, but your self-directed investments can grow into tax-free distributions for qualifed education expenses. ESA participants (including designated beneficiaries) can make maximum allowable contributions to both their ESAs and qualifed tuition programs (QTPs) without penalty.
|Tax Year||Annual Contribution Limit||Contribution Deadline|
|2019||$2,000||April 15th, 2020|
|2020||$2,000||April 15th, 2021|