Support CenterWhere report Coverdell Education Savings Account (ESA) distributions ?
Distribution from a Coverdell ESA is generally taxable income reported on Sch 1 line 8z. If the entire amount was used for education and does not exceed the education expenses, you may not report it on line 8z. If claiming education credits or tuition deduction, reduce the amount paid for education expenses by the amount received from their Coverdell ESA. This reduction in education expenses is due to the tax benefit not being able to be used twice within the same return for the same student.
For additional information about ESA distributions, see IRS Publication 970 on the IRS Web site at: http://www.irs.gov/pub/irs-pdf/p970.pdf
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