Anyone may contribute to a child’s Coverdell account if their modified adjusted gross income meets the IRS guidelines as follows:
$95,000 for single persons, with a phase out up to $110,000
$190,000 for married couples filing jointly, with a phase out up to $220,000
The maximum contribution per child per year is $2,000. Contributions are NOT permitted once the child turns 18 years of age (except for special needs beneficiaries).
Public, private or religious elementary or secondary schools.
Post-secondary or higher education for any college, university or vocational school.
Tuition, fees, supplies, books, and academic tutoring.