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Home / Services / Calculators / Newsletter / Archives Education Savings Accounts Education Savings Accounts are a new name for the old Education IRAs that have been improved. You may now make a nondeductible contribution up to $2,000 per year for a child up to 18 years of age. This contribution may be made up to April 15th. Married filing a joint return with adjusted gross income under $190,000 may contribute to this account. The distributions are not taxable if used for education-related expense for grades K-12 as well as higher education. (February, 2003 Newsletter)
James E. Newland, CPA 939 Center Road Eastlake, Ohio 44095 440-951-9799 |
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