msmith7305
Level 7
02-08-2020
06:42 PM
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Is there anywhere to enter contributions to a Coverdell?
I can't find anything other than a place to record EXCESS contributions from prior years.
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George4Tacks
Level 15
02-08-2020
07:06 PM
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Not deductible. No place to record on a 1040. https://www.irs.gov/taxtopics/tc310
Here's wishing you many Happy Returns
msmith7305
Level 7
02-08-2020
07:37 PM
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I agree it is not deductible. However, it would be nice to have a crosscheck as to how much of a contribution is allowed. There is a max MAGI limitation for contributions ($220k MFJ) with a phaseout range of $30,000 MFJ. If there was a worksheet it would help in figuring out the allowable amount.
George4Tacks
Level 15
02-08-2020
07:40 PM
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Not what you want, but IRS has one on page 49 https://www.irs.gov/pub/irs-pdf/p970.pdf
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
msmith7305
Level 7
02-08-2020
08:52 PM
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Ha! No, not the answer I want and yes, I'm aware of the worksheet.
Just would be nice to have the same type of warning system as the Deductible IRA worksheet.
