SIE Exam Question 131: Answer and Explanation

Question: 131

What is the maximum annual contribution amount allowed in a Coverdell Education Savings Account (CESA)?

• A. $500
• B. $2,000
• C. $5,500
• D. $14,000

Correct Answer: B

Explanation:

The maximum annual contribution amount allowed in a Coverdell Education Savings Account (CESA) in TY 2020 is $2,000.