The Motley Fool Discussion Boards

Previous Page

Financial Planning / Paying For College

URL:  https://boards.fool.com/hardyweinberg-writes-in-part-can-i-contribute-22130450.aspx

Subject:  Re: rollover? Date:  2/27/2005  5:12 PM
Author:  Bob78164 Number:  6300 of 8509

HardyWeinberg writes (in part):

Can I contribute $2k [to a Coverdell] for last year by 15 April and attribute it to last year?

I reply:

You can now. When Coverdell's were first created and called Education IRAs, that was not possible. Then, a 2004 contribution had to be made in 2004. That rule was so silly even Congress realized it, so it's been changed. Contributions for a Coverdell can now be made for the previous year up through the tax filing deadline, without extensions -- in other words, April 15 (unless it's a weekend or holiday). --Bob
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us