Business
Business, 03.06.2021 18:00, lilloser

An uncle opens a Coverdell ESA for his niece and makes deposits over a number of years. When she enters college, the niece withdraws $10,000 from her Coverdell ESA to pay for expenses. The student only uses $9,000 of the funds. The remaining $1,000: A must be redeposited to the account B is taxable at ordinary income tax rates to the niece C is taxable at ordinary income tax rates to the uncle D is not taxable and can be used by the niece for any purpose Review

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An uncle opens a Coverdell ESA for his niece and makes deposits over a number of years. When she ent...

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