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Question #4
#4
Multiple Choice
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Which of the following responses is characteristic of a Coverdell education savings account (ESA)?
A.
There are no annual contribution limits.
B.
Contributions into a Coverdell ESA are tax deductible.
C.
Unused funds are permitted to be transferred to an eligible relative of any age.
D.
The designated beneficiary must be under the age of 18 or be a special needs beneficiary when the account is established.
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Exam SIE Topic 1 Question 4
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