The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Coverdell ESA||Date: 9/16/2013 12:42 PM|
|Author: whyohwhyoh||Number: 119150 of 125414|
Our MAGI is above the $220k mark, but my understanding is that others can contribute to my children's ESAs.
I already have an account I opened 4-5 years ago, which I contributed for 2 years before our income became too high.
Can I can gift $4k to my sister (<MAGI requirements) for her birthday, then link her bank account to these 2 ESA accounts and withdraw $2k into each of them? Or is there a better strategy?
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|