529 News

S. 195 - 401(Kids) Education Savings Account Act of 2015

(January 20, 2015) - Sponsor: Mark Kirk [R-IL]
Introduced: Jan 20, 2015

Amends the IRC to eliminate, after 2015, the income-based reduction of contributions to Coverdell ESAs. It would also increase the contribution limit for such accounts to the annual gift tax exclusion. It calls for the expansion of Coverdell ESAs by allowing for the payments of home schooling and acquisition costs of a first-time homebuyer. Lastly, the bill would allow for tax-free rollovers from a Coverdell to a Roth IRA.

For more information, click here.

Return to 529 News center.


Reset email successfully sent.
Please check your inbox.