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Education IRA

The name for a tax-deferred investment vehicle, set up on or after January 1, 1998, which has now been replaced by the Coverdell Education Savings Account. Such an account may contain funds to be applied to future education-related expenses. The name is misleading, as an Education IRA is not actually an IRA and is not related to retirement in any way. Contributions are not tax-deductible but all deposits and earnings can be withdrawn without additional penalties or taxes.

Related information about Education IRA:
  1. Education IRA Definition | Investopedia
    A savings plan for higher education. Parents and guardians are allowed to make nondeductible contributions to an education IRA for a child under the age of 18.
     
  2. Coverdell Education Savings Accounts
    Sep 11, 2012 ... Coverdell Education Savings Accounts. IRS TAX TIP 2008-59. A Coverdell Education Savings Account (ESA) is an account created as an ...
     
  3. Fool.com: Education IRA
    Here, we'll look at yet another tax-saving education provision that was included in the 1997 Taxpayer Relief Act: The Education IRA. An education IRA (which ...
     
  4. Intro to Esas - Coverdell Education Savings Account
    Back when it was the Education IRA, not too much (despite the lure of tax-free income). In 2002, however, the re-named Coverdell education savings account ...
     
  5. Coverdell IRA Education IRA
    A Coverdell Education Savings Account or Coverdell ESA* (formerly known as an Education IRA) is a custodial saving account used for paying educational ...
     
  6. Tax tip: Uncle Sam offers tax-free way to save on school costs
    Mar 1, 2008 ... The formerly named education IRA, now called Coverdell, allows you to save some tax-free cash for your child's college education.
     
  7. Coverdell Education Savings Account - Wikipedia, the free ...
    A Coverdell Education Savings Account (also known as an Education Savings Account, a Coverdell ESA, a Coverdell Account, or just an ESA and formerly ...
     
  8. Educational IRA
    Although the money you contribute to an Education IRA is still not tax deductible, as of ... Furthermore, as of 2002, using money from an Education IRA no longer ...