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Can I invest in both a 529 plan and a Coverdell Education Savings Account?

April 26, 2017Coverdell Education invest Plan savings account

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Can I invest in both a 529 plan and a Coverdell Education Savings Account?

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A. Yes. You can contribute to both types of college savings options. You can also choose to rollover funds from a Coverdell Education Savings Account to a 529 plan tax-free. An account statement reflecting principal and earnings for the Coverdell account is required.