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Do I answer yes or no to is this a return of contribution on the Coverdell ESA when part of the amount is earnings?
The beneficiary turned 30 and we cashed in her Coverdell ESA. She was not a student and has no educational expenses for 2016. The gross distribution is 3500 and the basis is 1500, so part of the amount is a return of contribution. We cashed it in in April. Do I enter 0 for total value as of 12/31/2016?
‎June 6, 2019
3:55 AM