In 2014, Joyce receives a $4,000 distribution from her Coverdell Education Savings Account (CESA), which has a
Question:
a. Joyce uses the entire $4,000 to pay for qualified education expenses. What amount should she include in her gross income?
b. Assume instead that Joyce uses only $2,500 of the $4,000 distribution for qualified education expenses. What amount should she include in her gross income?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
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