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Which of the following statements regarding a Coverdell Education Savings Account (CESA) is incorrect? a. In order to be tax-free, distributions must be used exclusively

Which of the following statements regarding a Coverdell Education Savings Account (CESA) is incorrect?

a. In order to be tax-free, distributions must be used exclusively to pay the qualified education expenses of the beneficiary.

b. Any person can contribute to a CESA, even if he or she is not related to the beneficiary.

c. Contributions to a CESA are not tax-deductible.

d. A person can contribute to only one CESA during each tax year.

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