Funds left over from a Coverdell Education Savings Account after all education expenses are paid go back to whom ?

Some current institution question and answer requested students to tell what they admit is the most important element for a student to do in order to obtain success. The one that response stood out from the rest was practice. Persons who usually are successful do not become successful by being born. They work hard and dedicate their lives to succeeding. If you wish to get your goals, keep this in mind! in the following paragraphs some question and answer examples that you could possibly utilise to improve your knowledge and gain insight that will assist you to sustain your school studies.

Question:

Funds left over from a Coverdell Education Savings Account after all education expenses are paid go back to whom ? A. The beneficiary
B. The financial institution
C. The educational institution
D. The account holder

Answer:

Answer:

A. The beneficiary

Explanation:

Coverdell Education Savings Account is an investment plan that is used to cover the beneficiary’s future education expenses and it has tax advantages. When this account is opened, the beneficiary must be under 18 and when the person graduates and all the expenses has been paid and there is money available on the account, it can be withdrawn by the beneciary but it will be subject to taxes. According to this, funds left over from a Coverdell Education Savings Account go back to the beneficiary.

They could certainly hopefully assist the student take care of the question by make use of the questions and answer examples. Then can easily have some sharing in a group discussion and also learning with the classmate about the topic, so another student also possess some enlightenment and still keeps up the school learning.

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