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Do I need to report Coverdell ESA contribution to IRS?
Can I get clarification ? I have the following questions:
1. Is Education Savings IRA the same as Coverdell ESA? Schwab calls it the former.
2. I contributed to Education Savings IRA account last year. I have not received any official form from Schwab such as a 1099 to file with my tax return. Do I need to report the contributions somehow to the IRS?
3. Searching online, I came across the form 5498-ESA. Do I need to fill this out if I don't have any distributions?
May 14, 2021
5:27 PM