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| Coverdell Education Savings Account |
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Maximum contribution: $2,000 total each year for all accounts opened on each child's behalf |
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Withdrawals (including earnings) are tax- and penalty-free for qualified higher-education expenses, including expenses for elementary and secondary education |
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Qualified expenses: tuition, books, certain room and board expenses for higher education (college and trade school) and home computers to be used by the beneficiary and his or her family during that period |
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