Which of the following statements about a Coverdell ESA isnotcorrect?

A.every contributor can make an annual $2,000 contribution to a Coverdell for the same beneficiary

B.Coverdell assets can be used for elementary, secondary and higher education

C.assets in a Coverdell ESA accumulate on a tax-deferred basis and earnings are tax-free is used for qualified educational purposes

D.taxpayers may be phased out from contributing to a Coverdell ESA because of their level of modified adjusted gross income