I have two teens. Can I contribute say 2000 each to their accounts using our family trust since we exceed the IRS income limit?
IRS Topic No. 310 Coverdell Education Savings Accounts says (quote) "Organizations, such as corporations and trusts can also contribute regardless of their adjusted gross income." I am wondering if our own family trust is included or not in the said 'trusts' here.
Thanks,
Ray
