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IRC §529 · §530 · §1(g) cited
Kid Saver: 529 vs Coverdell vs UTMA
Three ways to save for a kid. One is usually best. We do the math so you can stop guessing.
Child's current age
Annual contribution
Expected total college cost (today's dollars)
State of residence
Florida (no state deduction)
New York (up to $5K / $10K)
Other
Filing status (for state deduction)
Single
Married filing jointly
Expected annual growth rate
5% (conservative)
7% (historical avg)
9% (aggressive)
Projected balance at age 18
529 Plan
$0
tax-free qualified withdrawals
Coverdell ESA
$0
capped at $2K/yr per child
UTMA
$0
taxable, kiddie-tax exposed
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Citations: IRC §529(c)(2) 5-year forward, §530 Coverdell, §1(g) kiddie tax. Verify at
irs.gov/pub970
Have us set up the right plan for your kid
Projections assume constant contributions and growth. State deduction examples (FL, no income tax. NY, up to $5K single or $10K MFJ per N.Y. Tax Law §612(c)(32)) are illustrative. We verify your state and run real numbers. Phone 689-331-5723.