Without regard to AGI limitations, what is the maximum contribution permitted to a Coverdell Education Savings Account
Question:
Without regard to AGI limitations, what is the maximum contribution permitted to a Coverdell Education Savings Account in 2019?
a. $500
b. $2,000
c. $6,000
d. The lower of $6,000 or 100% of compensation
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
Answered By
Akshay Singla
as a qualified engineering expert i am able to offer you my extensive knowledge with real solutions in regards to planning and practices in this field. i am able to assist you from the beginning of your projects, quizzes, exams, reports, etc. i provide detailed and accurate solutions.
i have solved many difficult problems and their results are extremely good and satisfactory.
i am an expert who can provide assistance in task of all topics from basic level to advance research level. i am working as a part time lecturer at university level in renowned institute. i usually design the coursework in my specified topics. i have an experience of more than 5 years in research.
i have been awarded with the state awards in doing research in the fields of science and technology.
recently i have built the prototype of a plane which is carefully made after analyzing all the laws and principles involved in flying and its function.
1. bachelor of technology in mechanical engineering from indian institute of technology (iit)
2. award of excellence in completing course in autocad, engineering drawing, report writing, etc
4.70+
48+ Reviews
56+ Question Solved
Related Book For
Fundamentals Of Taxation 2020 Edition
ISBN: 9781260483147
13th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
Question Posted:
Students also viewed these Business questions
-
Tax-free distributions from a Coverdell Education Savings Account can be used for what purpose? Be specific.
-
What is the maximum contribution that an employer can make to an employees SIMPLE account?
-
What is the maximum power that can be received over a distance of 1.5 km in free space with a 1.5-GHz circuit consisting of a transmitting antenna with a gain of 25 dB and a receiving antenna with a...
-
A 0.1 cm thick flat copper plate, 2.5 m x 2.5 m square is to be cooled in a vertical position. The initial temperature of the plate is 90?C with the ambient fluid at 30?C. The fluid medium is either...
-
In Exercises 1-2, determine if the vectors are linearly independent. Justify each answer. 1. 2. 10
-
Explain the concept of locality of reference, and state its importance to memory systems.
-
After returning from a skiing vacation in Vermont, Leslie Adel came down with Legionnaires Disease. He claimed it was from the water drunk at the ski resort and provided by Greensprings of Vermont...
-
Lambert Corporation sells merchandise at a list price of $70,000 with accompanying terms of 2/10, n/30 on December 8, 2016. By December 18, 2016, Lambert had collected from customers for merchandise...
-
Complete a detailed Income Statement using the information from the Trial Balance. Make sure to list out all accounts you use to complete the Income Statement. TRIAL BALANCE AS OF DECEMBER 31, 20XX...
-
This problem is useful for testing the ability of financial calculators and spreadsheets. Consider the following cash flows. How many different IRRs are there? Search between 20 percent and 70...
-
Vanessa and Martin file a joint return for 2019. They have one child age 12. They have combined AGI of $202,000. What is their maximum permitted contribution to a Coverdell Education Savings Account...
-
Vickie is single and age 43. She reported AGI of $126,000 in tax year 2019. She is an active participant in her employers pension plan. What is the maximum Roth IRA contribution she can make in 2019?...
-
In Problem, evaluate the improper integrals that converge. -2 dx V? 1)3 -00 8
-
Where do you think the future of e-commerce is headed?
-
MicroDrive's free cash flow is expected to be 100 million , 200 million , and 500 million in the next 1st , 2nd , and 3rd year . After 3 years , the free cash flow will constantly grow at 10 % . WACC...
-
MIPS is the Merit-based Incentive Payment Systems that most providers will fall under for payment adjustment option. What four components will be used for the composite score?
-
describe the ethical issues of global supply chain as it pertains to the UN definition of sustainability. How does this impact cost?
-
Kite ABCD is translated (x-2, y + 3) and then rotated 90 about the origin in the counterclockwise direction. Complete the table to show the locations of A", B", C", and D" after both transformations....
-
Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation in Exercise 8-9. In Exercise 8-9, Del Gato Clinic deposits all cash receipts on...
-
For all of the following words, if you move the first letter to the end of the word, and then spell the result backwards, you will get the original word: banana dresser grammar potato revive uneven...
-
Antoine sold the following stock in 2016. ABC, Inc., is a 1202 qualified small business (QSB). a. Complete the chart: b. After netting, what is the total gain or loss? c. If Antoine is in the 33% tax...
-
Ricardo acquired a warehouse for business purposes on August 30, 1997. The building cost $400,000. He took $226,900 of depreciation on the building, and then sold it for $500,000 on July 1, 2016....
-
Davidson Industries, a sole proprietorship, sold the following assets in 2016: a. The following questions relate to the sale of the warehouse: (1). What is the adjusted basis of the warehouse? (2)....
-
Explain job costing, process costing, actual costing, and normal costing.
-
Which shares of preferred stock may increase the most if the value of the company's common stock appreciates?
-
If the ending inventory was erroneously understated, what would happen to COGS and the working capital ratio, respectively, in the same accounting period?
Study smarter with the SolutionInn App