Coverdell Education Savings AccountSave for your child's education
A Coverdell Education Savings Account helps you save for your child's education by offering federal tax-free earnings and withdrawals for qualified expenses such as tuition, books, computers and room and board. There is no minimum required annual contribution, and you may contribute as much as $2,000 per child per year if you meet the income requirements.
With a Coverdell Education Savings Account you get:
Choices - Unlike 529 College Savings Plans, a Coverdell Education Savings Account can also be used for expenses associated with attending a public or private elementary or secondary school.
Flexibility - Fortunately, you don't have to choose between plans. You can open a 529 College Savings Plan and a Coverdell Education Savings Account for each of your children.
No maintenance fees - TD AMERITRADE doesn't charge maintenance fees so more of your money will be working toward your goal.
Coverdell contribution limits and income requirements
Are you eligible to contribute the full $2,000 per year? You are, if you meet the following income guidelines:
- Single filers: modified Adjusted Gross Income (AGI) must be less than $95,000.
- Married couples: modified AGI must be less than $190,000.
TD AMERITRADE does not provide tax advice. We suggest that you seek the advice of a tax-planning professional with regard to your personal circumstances.
Open a TD AMERITRADE Coverdell Education Savings Account.
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