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Old 11-11-2005, 12:13 PM
BMS
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Default Re: coverdell & 529

2 separate things, you don't have to take into account what each other is
doing.

"saif" <saiff[at]hotmail.com> wrote in message
news:1131652730.431350.197450[at]g47g2000cwa.googlegroups.com...
- quote -

> I have a 1 year old daughter.
> In 2004 I contributed $2000 to a new coverdell account for her (2004
> tax year contribution)
> In 2005, my father, (Daughters grandfather) opened a 529 plan in her
> name and put in $10,000.
> For 2005, can I contribute to the Coverdell account assuming my
> incoming fits within the specs for the coverdell or is it limited by
> the contribution to the 529 plan.
> Thanks in advance.


  #-1  
Old 11-10-2005, 07:58 PM
saif
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Posts: n/a
Default coverdell & 529

I have a 1 year old daughter.
In 2004 I contributed $2000 to a new coverdell account for her (2004
tax year contribution)
In 2005, my father, (Daughters grandfather) opened a 529 plan in her
name and put in $10,000.

For 2005, can I contribute to the Coverdell account assuming my
incoming fits within the specs for the coverdell or is it limited by
the contribution to the 529 plan.

Thanks in advance.

 

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529, coverdell
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