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Download your FREE Investor's Guide to Self-Directed IRAs

Self-Directed IRA Investing Guide
With a self-directed IRA at New Direction IRA, your IRA can invest in the full range of allowable assets:
  • real estate
  • precious metals
  • private equity
  • private loans
  • ...and more.

Most people simply don’t know that these investments are allowable. Download our free guide and get the facts.

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Coverdell ESA Contribution Limits & Deadlines

Deadline to open a Coverdell ESA: April 15th of next year, no extension

Deadline to contribute to a Coverdell ESA: April 15th of next year, no extension.

        Year         Contribution Limit
2018 $2,000
2017 $2,000

The total contributions for the beneficiary of this account cannot exceed $2,000 in any year, no matter how many accounts have been established. Any individual (including the designated beneficiary) can contribute to a Coverdell ESA if the individual's MAGI for the year is less than $110,000. For individuals filing joint returns, that amount is $220,000.

  • Contributions can be made, without penalty, to both a Coverdell ESA and a QTP in the same year for the same beneficiary.
  • Contributions to a Coverdell ESA are not deductible, but amounts deposited in the account grow tax-free until distributed.
  • Contributions to a Coverdell ESA may be made until the due date of the contributor’s return, without extensions.
  • Contributions must be made in cash.
  • Contributions must be made before the beneficiary reaches age 18.
  • Contributions can be made to one or several Coverdell ESAs for the same designated beneficiary, provided the total contributions to all accounts do not exceed the contribution limits for the year.

Did you know that IRA accounts also have special exceptions for higher education expenses?
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