ESA - Education Savings Account Contribution Limits for 2017 and 2018

ESA Contribution Deadlines

Tax-year 2018 deadline is April 15th, 2019
Tax-year 2019 deadline is April 15th, 2020

ESA Information

A Coverdell Education Savings Account (ESA) is a way to save for your child’s education. Contributions to an ESA are not tax deductible, but the earnings grow tax-deferred and will be tax-free if used for education.

Education Savings Account (ESA) Contribution Limits

	2018	2019
Per year until the child is age 18 unless the child has special needs.	$2,000	$2,000

Eligibility for ESAs

Any adult or entity can establish an Education Savings Account (ESA) for any child below the age of 18.
Age exceptions apply for special needs beneficiaries.

Other Important Information

The beneficiary does not have to be related to the individual(s) who open the account or make annual contributions to the account.
Contributions must be made in cash but you are not required to contribute every year.
Funds can be transferred to any eligible family member below the age of 30.

Education Savings Account (ESA) - IRS Limitations

There are limits to who may contribute to a Coverdell ESA. Your eligibility is based on your modified adjusted gross income (MAGI) and tax filing status.

Single filers can contribute to a Coverdell account if their MAGI for the year is less than $110,000. For married couples filing a joint return, the MAGI threshold is $220,000. A trust or corporation can also make contributions to a Coverdell account on behalf of an eligible student. The income limits don’t apply to organizations making ESA contributions.

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Education Savings Account (ESA) Contribution Limits

ESA Contribution Deadlines

ESA Information

Eligibility for ESAs

Other Important Information

Education Savings Account (ESA) - IRS Limitations

IRA Contribution Limits FAQs

Learn the answers to the most asked questions on the topic of contribution limits