AmyC
Expert Alumni

Get your taxes done using TurboTax

No. Those are earnings accumulating along the way. The basis is what was actually put into the account. See IRS TAX TIP 2003-38 COVERDELL EDUCATION which explains earnings on the account and taxability.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"