I have a similar situation. I contributed $2000 to my 10 year old's Coverdell ESA in 2023 and realized January 2024 that it was an excess contribution and took the $2000 back out plus $296 in earnings on that contribution. If this has to be filed under the dependent (the 10 year old), the $296 does not meet the unearned income threshold to file a tax return, so does that mean I don't have to file to pay the tax and 10% penalty?
