Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is IRS Form 5498-ESA?

form IRS tax preparation
0
10 Posted

What is IRS Form 5498-ESA?

0 CommentsAdd a Comment

1 Answer

0
10

IRS Form 5498-ESA provides information about contributions to a Coverdell ESA. An Educational Savings Account allows a taxpayer to save up to $2000 per year for education in a tax-deferred manner. Withdrawals are tax-free when used for tuition. The plan operator must disclose the current year’s contributions and rollover contributions. The operator must send this form to the plan participant by April 30.

0 CommentsAdd a Comment
What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123