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Updated about 7 years ago,
Coverdell ESAs phasing out with new tax reform
Hello,
I went to open up two Coverdell ESA accounts for my children and was informed that these are being phased out with the new tax law. For most people, this is an insignificant change because 529 plans are being expanded to include lower levels of education expenses and they already have higher contribution limits. However, for real estate investors, this closes the opportunity to use real estate to fund education expenses in the future. I'm not a CPA so if someone more knowledgable than me would like to provide their advice, I would love to hear it. From what I understand, you have until 04/15/2018 to open and fund an ESA. If you miss this opportunity, it might never be available again. Good luck.
https://www.fool.com/taxes/2017/11/05/7-hidden-cha...
Thanks,