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3 June, 11:20

Contributions to a Coverdell Education Savings Account must cease when the beneficiary reaches the age of: A 16 B 18 C 21 D 30

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  1. 3 June, 13:19
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    B) 18

    Explanation:

    A Coverdell Education Saving Account accepts contributions up to the 18th birthday of the beneficiary, unless the beneficiary has "special needs" (usually some type of disability).

    Coverdell ESA are very similar to a 529 plan, except that the beneficiary is the owner of the funds, not the account owner. Both accounts offer tax free earnings growth and tax free withdrawals, as long as they are used to cover qualifying educational expenses.
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