What is the maximum contribution to a Coverdell Education Savings Account?

$2,000Click to see full answer. Likewise, people ask, how much can I contribute to Coverdell?You may contribute up to $2,000 per beneficiary each year to a Coverdell ESA. The maximum $2,000 contribution limit is phased out for single filers with modified adjusted gross income (MAGI) between $95,000 and $110,000, and for joint filers with between $190,000 and $220,000.Similarly, how much can you contribute to an education savings account? You can contribute to as many Coverdell ESAs as you want. You can contribute up to $2,000 per child per year. This is true no matter how many accounts exist or how many people contribute. The $2,000 contribution limit is an overall limit on contributions per child. Accordingly, can you contribute to both Coverdell and 529? Coverdell educational savings accounts and 529 plans both offer tax-sheltered accounts to save for future education expenses. The contribution limits for Coverdells and 529 plans don’t overlap, so you can contribute to both in the same year.How long can you contribute to a Coverdell ESA?Contributions to a Coverdell ESA for the previous year must be made by the contributor’s tax filing deadline, excluding extensions. For example, you have until April 15, 2020, to make a contribution for your 2019 tax year even if you file an extension with the IRS.