Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_530
Timestamp: 2019-10-17 17:46:43
Document Index: 427395762

Matched Legal Cases: ['§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530', '§ 530']

Internal Revenue Code, § 530. Coverdell Education Savings Accounts
I.R.C. § 530(a) General Rule —
I.R.C. § 530(b) Definitions And Special Rules —
I.R.C. § 530(b)(1) Coverdell Education Savings Account —
I.R.C. § 530(b)(1)(A) —
I.R.C. § 530(b)(1)(A)(i) —
I.R.C. § 530(b)(1)(A)(ii) —
I.R.C. § 530(b)(1)(A)(iii) —
I.R.C. § 530(b)(1)(B) —
I.R.C. § 530(b)(1)(C) —
I.R.C. § 530(b)(1)(D) —
I.R.C. § 530(b)(1)(E) —
I.R.C. § 530(b)(2) Qualified Education Expenses
I.R.C. § 530(b)(2)(A) In General —
I.R.C. § 530(b)(2)(A)(i) —
qualified higher education expenses (as defined in section 529(e)(3)), and
I.R.C. § 530(b)(2)(A)(ii) —
I.R.C. § 530(b)(2)(B) Qualified Tuition Programs —
I.R.C. § 530(b)(3) Qualified Elementary And Secondary Education Expenses
I.R.C. § 530(b)(3)(A) In General —
I.R.C. § 530(b)(3)(A)(i) —
I.R.C. § 530(b)(3)(A)(ii) —
I.R.C. § 530(b)(3)(A)(iii) —
expenses for the purchase of any computer technology or equipment or Internet access and related services, if such technology, equipment, or services are to be used by the beneficiary and the beneficiary's family during any of the years the beneficiary is in school.
I.R.C. § 530(b)(3)(B) School —
I.R.C. § 530(b)(3)(C) Computer Technology Or Equipment —
I.R.C. § 530(b)(4) Time When Contributions Deemed Made —
An individual shall be deemed to have made a contribution to a Coverdell education savings account on the last day of the preceding taxable year if the contribution is made on account of such taxable year and is made not later than the time prescribed by law for filing the return for such taxable year (not including extensions thereof).
I.R.C. § 530(c) Reduction In Permitted Contributions Based On Adjusted Gross Income
I.R.C. § 530(c)(1) In General —
I.R.C. § 530(c)(1)(A) —
I.R.C. § 530(c)(1)(A)(i) —
the contributor's modified adjusted gross income for such taxable year, over
I.R.C. § 530(c)(1)(A)(ii) —
I.R.C. § 530(c)(1)(B) —
I.R.C. § 530(c)(2) Modified Adjusted Gross Income —
I.R.C. § 530(d) Tax Treatment Of Distributions
I.R.C. § 530(d)(1) In General —
I.R.C. § 530(d)(2) Distributions For Qualified Education Expenses
I.R.C. § 530(d)(2)(A) In General —
I.R.C. § 530(d)(2)(B) Distributions In Excess Of Expenses —
I.R.C. § 530(d)(2)(C) Coordination With American Opportunity And Lifetime Learning Credits And Qualified Tuition Programs —
I.R.C. § 530(d)(2)(C)(i) Credit Coordination —
I.R.C. § 530(d)(2)(C)(i)(I) —
I.R.C. § 530(d)(2)(C)(i)(II) —
I.R.C. § 530(d)(2)(C)(ii) Coordination With Qualified Tuition Programs —
I.R.C. § 530(d)(2)(C)(ii)(I) —
the aggregate distributions during such year to which subparagraph (A) and section 529(c)(3)(B) apply, exceed
I.R.C. § 530(d)(2)(C)(ii)(II) —
the taxpayer shall allocate such expenses among such distributions for purposes of determining the amount of the exclusion under subparagraph (A) and section529(c)(3)(B).
I.R.C. § 530(d)(2)(D) Disallowance Of Excluded Amounts As Deduction, Credit, Or Exclusion —
I.R.C. § 530(d)(3) Special Rules For Applying Estate And Gift Taxes With Respect To Account —
I.R.C. § 530(d)(4) Additional Tax For Distributions Not Used For Educational Expenses
I.R.C. § 530(d)(4)(A) In General —
I.R.C. § 530(d)(4)(B) Exceptions —
I.R.C. § 530(d)(4)(B)(i) —
I.R.C. § 530(d)(4)(B)(ii) —
attributable to the designated beneficiary's being disabled (within the meaning of section 72(m)(7)),
I.R.C. § 530(d)(4)(B)(iii) —
made on account of a scholarship, allowance, or payment described in section 25A(g)(2) received by the designated beneficiary to the extent the amount of the payment or distribution does not exceed the amount of the scholarship, allowance, or payment,
I.R.C. § 530(d)(4)(B)(iv) —
made on account of the attendance of the designated beneficiary at the United States Military Academy, the United States Naval Academy, the United States Air Force Academy, the United States Coast Guard Academy, or the United States Merchant Marine Academy, to the extent that the amount of the payment or distribution does not exceed the costs of advanced education (as defined by section 2005(e)(3) of title 10, United States Code, as in effect on the date of the enactment of this section) attributable to such attendance, or
I.R.C. § 530(d)(4)(B)(v) —
I.R.C. § 530(d)(4)(C) Contributions Returned Before Certain Date —
I.R.C. § 530(d)(4)(C)(i) —
I.R.C. § 530(d)(4)(C)(ii) —
I.R.C. § 530(d)(5) Rollover Contributions —
I.R.C. § 530(d)(6) Change In Beneficiary —
I.R.C. § 530(d)(7) Special Rules For Death And Divorce —
I.R.C. § 530(d)(8) Deemed Distribution On Required Distribution Date —
I.R.C. § 530(d)(9) Military Death Gratuity
I.R.C. § 530(d)(9)(A) In General —
For purposes of this section, the term ”rollover contribution” includes a contribution to a Coverdell education savings account made before the end of the 1-year period beginning on the date on which the contributor receives an amount under section 1477 of title 10, United States Code, or section 1967 of title 38 of such Code, with respect to a person, to the extent that such contribution does not exceed—
I.R.C. § 530(d)(9)(A)(i) —
I.R.C. § 530(d)(9)(A)(ii) —
I.R.C. § 530(d)(9)(B) Annual Limit On Number Of Rollovers Not To Apply —
I.R.C. § 530(d)(9)(C) Application Of Section 72 —
I.R.C. § 530(e) Tax Treatment Of Accounts —
I.R.C. § 530(f) Community Property Laws —
I.R.C. § 530(g) Custodial Accounts —
I.R.C. § 530(h) Reports —
(Added by Pub. L. 105-34, title II, Sec. 213(a), Aug. 5, 1997, 111 Stat 788; amended Pub. L. 105-206, title VI, Sec. 6004(d), July 22, 1998, 112 Stat 685; Pub. L. 106-554, Sec. 319, Dec. 21, 2000, 114 Stat. 2763; Pub. L. 107-16, title IV, Sec. 401, June 7, 2001, 115 Stat. 38; Pub. L. 107-22, Sec. 1, July 26, 2001, 115 Stat. 196; Pub. L. 107-147, title IV, Sec. 411(f), Mar. 9, 2002, 116 Stat. 21; Pub. L. 108-121, title I, Sec. 107(a), Nov. 11, 2003, 117 Stat. 121; Pub. L. 108-311, title IV, Sec. 404(a), 406(b), Oct. 4, 2004, 118 Stat. 1166; Pub. L. 109-135, title IV, Sec. 412(ff), Dec. 21, 2005, 119 Stat. 2577; Pub. L. 110-245, Sec. 109(c), June 17, 2008, 122 Stat. 1624; Pub. L. 115-141, Div. U, title I, Sec. 101(l)(16), title IV, Sec. 401(a)(131), (b)(23), Mar. 23, 2018, 132 Stat. 348.)
2018 - Subsec. (b)(3)(A)(iii). Pub. L. 115-141, Div. U, Sec. 401(b)(23), amended clause (iii) by striking “(as defined in section 170(e)(6)(F)(i))”.
Subsec. (b)(3). Pub. L. 115-141, Div. U, Sec. 401(b)(23), amended par. (3) by adding a new subpar. (C).
Subsec. (d)(2)(C). Pub. L. 115-141, Div. U, Sec. 101(l)(16), amended the heading of subpar. (C) by substituting “American Opportunity” for “Hope”.
Subsec. (d)(9)(B). Pub. L. 115-141, Div. U, Sec. 401(a)(131), amended subpar. (B) by substituting “by” for “by the”.
2008 - Subsec. (d)(9). Pub. L. 110-245, Sec. 109(c), amended subsec. (d) by adding par. (9).
2005 - Subsec. (b)(2)(A)(ii).Pub. L. 109-135, Sec. 412(ff)(2), amended clause (ii) by substituting “paragraph (3)” for “paragraph (4)”.
Subsec. (b)(3)-(5). Pub. L. 109-135, Sec. 412(ff)(1), amended subsec. (b) by striking par. (3) and by redesignating par. (4) and (5) as par. (3) and (4), respectively. Before being struck, par. (3) read as follows:
“(3) Eligible educational institution.--
“The term ‘eligible educational institution’ has the meaning given such term by section 529(f)(5).”
2004 - Subsec. (d)(2)(C)(i).Pub. L. 108-311, Sec. 404(a), amended clause (i) by striking “higher” after “qualified”.
Subsec. (d)(4)(B)(iii). Pub. L. 108-311, Sec. 406(b), amended clause (iii) by substituting “designated beneficiary” for “account holder”.
2003 - Subsec. (d)(4)(B)(iii)-(v).Pub. L. 108-121, Sec. 107(a), amended clause (iii) by striking “or” at the end; redesignated clause (iv) as clause (v); and added a new clause (iv).
2002 - Subsec. (d)(4)(B)(iv).Pub. L. 107-147, Sec. 411(f), amended clause (iv) by substituting “by application of paragraph (2)(C)(i)(II)" for “because the taxpayer elected under paragraph (2)(C) to waive the application of paragraph (2)”.
2001 - Sec. 530. Pub. L. 107-22, Sec. 1(a)(5), amended the heading by substituting “Coverdell Education Savings Accounts" for “Education Individual Retirement Accounts”.
Sec. 530. Pub. L. 107-22, Sec. 1(a)(1), substituted “a Coverdell education savings account” for “an education individual retirement account” each place it appeared. Note that subsec. (b)(5), added by Pub. L. 107-16 and effective for taxable years beginning after Dec. 31, 2001 (after the effective date of this Act), contains the phrase “an education individual retirement account”. Presumably, Congress intended that this amendment apply to subsec. (b)(5) as well.
Subsec. (a). Pub. L. 107-22, Sec. 1(a)(2), amended subsec. (a) by substituting “A Coverdell education savings account” for “An education individual retirement account” and by substituting “the Coverdell education savings account” for “the education individual retirement account”.
Subsec. (b)(1). Pub. L. 107-22, Sec. 1(a)(3), amended par. (1) by substituting “Coverdell education savings account” for “education individual retirement savings account” and by substituting “Coverdell Education Savings Account” for “Education Individual Retirement Account” in the heading.
Subsec. (d)(5). Pub. L. 107-22, Sec. 1(a)(4), amended par. (5) by substituting “Coverdell education savings account” for “education individual retirement account”.
Subsec. (e). Pub. L. 107-22, Sec. 1(a)(4), amended subsec. (e) by substituting “Coverdell education savings account” for “education individual retirement account”.
Subsec. (b)(1). Pub. L. 107-16, Sec. 401(c)(3)(A), amended par. (1) by striking “higher”.
Subsec. (b)(1). Pub. L. 107-16, Sec. 401(d), added the flush sentence at the end.
Subsec. (b)(1)(A)(iii). Pub. L. 107-16X, Sec. 401(a)(1), substituted “$2,000" for “$500”.
Subsec. (b)(2). Pub. L. 107-16, Sec. 401(c)(1), amended par. (2). Before amendment it read as follows:
“(2) Qualified higher education expenses.--
“(A) In general.--The term ‘qualified higher education expenses’ has the meaning given such term by section 529(e)(3), reduced as provided in section 25A(g)(2).
“(B) Qualified state tuition programs.--Such term shall include amounts paid or incurred to purchase tuition credits or certificates, or to make contributions to an account, under a qualified State tuition program (as defined in section 529(b)) for the benefit of the beneficiary of the account.”
Subsec. (b)(2)(B). Pub. L. 107-16, Sec. 402(a)(4), amended subpar. (B) by substituting “qualified tuition” for “qualified state tuition” in the heading and the text.
Subsec. (b)(4). Pub. L. 107-16, Sec. 401(c)(2), added par. (4).
Subsec. (b)(5). Pub. L. 107-16, Sec. 401(f)(1), added par. (5).
Subsec. (c)(1). Pub. L. 107-16, Sec. 401(e), amended par. (1) by substituting “In the case of a contributor who is an individual, the maximum amount the contributor” for “The maximum amount which a contributor”.
Subsec. (c)(1)(A)(ii). Pub. L. 107-16, Sec. 401(b)(1), amended clause (ii) by substituting “$190,000” for “$150,000”.
Subsec. (c)(1)(B). Pub. L. 107-16, Sec. 401(b)(2), amended subpar. (B) by substituting “$30,000” for “$10,000”.
Subsec. (d)(2). Pub. L. 107-16, Sec. 401(c)(3), amended par. (2) by striking “higher” in the heading and text.
Subsec. (d)(2)(C). Pub. L. 107-16, Sec. 401(g)(1), amended subpar. (C). Before it was amended it read as follows:
“(C) Election to waive exclusion.--A taxpayer may elect to waive the application of this paragraph for any taxable year.”
Subsec. (d)(2)(D). Pub. L. 107-16, Sec. 401(g)(2)(C), amended subpar. (D) by substituting “deduction, credit, or exclusion" for “credit or deduction” in the heading and by substituting “, credit, or exclusion” for “or credit” in the text.
Subsec. (d)(4)(C). Pub. L. 107-16, Sec. 401(f)(2)(B), amended the heading of subpar. (C) by substituting “certain date" for “due date of return”.
Subsec. (d)(4)(C)(i). Pub. L. 107-16, Sec. 401(f)(2)(A), amended clause (i). Before amendment it read as follows:
“(i) such distribution is made on or before the day prescribed by law (including extensions of time) for filing the beneficiary's return of tax for the taxable year or, if the beneficiary is not required to file such a return, the 15th day of the 4th month of the taxable year following the taxable year, and”
2000 - Subsec. (d)(4)(B)(iii).Pub. L. 106-554, Sec. 319(6), amended clause (iii) by substituting “, or” for “; or” at the end.
1998 - Subsec. (b)(1). Pub. L. 105-206, Sec. 6004(d)(1), amended par. (1) by inserting “an individual who is” before “the designated beneficiary”.
Subsec. (b)(1)(E). Pub. L. 105-206, Sec. 6004(d)(2)(A), amended subpar. (E). Prior to amendment it read as follows:
“(E) Upon the death of the designated beneficiary, any balance to the credit of the beneficiary shall be distributed within 30 days after the date of death to the estate of such beneficiary.”
Subsec. (d)(1). Pub. L. 105-206, Sec. 6004(d)(3)(A), amended subpar. (A) by substituting “section 72” for “section 72(b)”.
Subsec. (d)(2)(D). Pub. L. 105-206, Sec. 6004(d)(5), amended par. (2) by adding subpar. (D).
Subsec. (d)(4)(B). Pub. L. 105-206, Sec. 6004(d)(6), amended par. (4) by striking “or” at the end of clause (ii); by substituting “, or” for “.” at the end of clause (iii); and by adding clause (iv).
Subsec. (d)(4)(C). Pub. L. 105-206, Sec. 6004(d)(7), amended subpar. (C). Prior to amendment it read as follows:
“(C) Excess contributions returned before due date of return.--
Subparagraph (A) shall not apply to the distribution of any contribution made during a taxable year on behalf of a designated beneficiary to the extent that such contribution exceeds $500 if--
“(i) such distribution is received on or before the day prescribed by law (including extensions of time) for filing such contributor's return for such taxable year, and”.
Subsec. (d)(5). Pub. L. 105-206, Sec. 6004(d)(8)(A), amended par. (5) by substituting the first sentence above for “Paragraph (1) shall not apply to any amount paid or distributed from an education individual retirement account to the extent that the amount received is paid into another education individual retirement account for the benefit of the same beneficiary or a member of the family (within the meaning of section 529(e)(2)) of such beneficiary not later than the 60th day after the date of such payment or distribution.”
Subsec. (d)(6). Pub. L. 105-206, Sec. 6004(d)(8)(B), amended par. (6) by inserting “and has not attained age 30 as of the date of such change” before the period.
Subsec. (d)(7). Pub. L. 105-206, Sec. 6004(d)(2)(B), amended par. (7) by inserting the sentence at the end.
Subsec. (d)(8). Pub. L. 105-206, Sec. 6004(d)(2)(C), amended subsec. (d) by adding par. (8).
Amendment by Pub. L. 115-141, Div. U, Sec. 101(l)(16), effective as if included in the provision of the Protecting Americans from Tax Hikes Act of 2015 [Pub. L. 114-113] to which it relates.
Amendment by Pub. L. 115-141 , Div. U, Sec. 401(a)(131) and (b)(23), effective March 23, 2018.
Amendment by Section 109(c) of Pub. L. 110-245 effective with respect to deaths from injuries occurring on or after the date of the enactment of this Act [Enacted: June 17, 2008]. Section 109(d)(2)-(3) of Pub. L. 110-245 provided that:
“(2) APPLICATION OF AMENDMENTS TO DEATHS FROM INJURIES OCCURRING ON OR AFTER OCTOBER 7, 2001, AND BEFORE ENACTMENT- The amendments made by this section shall apply to any contribution made pursuant to section 408A(e)(2) or 530(d)(5) of the Internal Revenue Code of 1986, as amended by this Act, with respect to amounts received under section 1477 of title 10, United States Code, or under section 1967 of title 38 of such Code, for deaths from injuries occurring on or after October 7, 2001, and before the date of the enactment of this Act [Enacted: June 17, 2008] if such contribution is made not later than 1 year after the date of the enactment of this Act.
“(3) PENSION PROTECTION ACT CHANGES- Section 408A(e)(1) of the Internal Revenue Code of 1986 (as in effect after the amendments made by subsection (b)) shall apply to taxable years beginning after December 31, 2007.”
Amendment by Section 412(ff) of Pub. L. 109-135 applicable on the date of the enactment of this Act [Enacted: Dec. 21, 2005].
Amendment by Section 404(a) of Pub. L. 108-311 applicable as if included in the provision of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Sec. 401] to which it relates [Effective: taxable years beginning after Dec. 31, 2001].
Amendment by Section 406(b) of Pub. L. 108-311 applicable as if included in the provision of the Taxpayer Relief Act of 1997 [Sec. 213] to which it rlelates [Effective: taxable years beginning after 1997].
Amendments by Section 107(a) of Pub. L. 108-121 applicable to taxable years beginning after December 31, 2002.
Amendment by Section 411(f) of Pub. L. 107-147 applicable as if it was included in the provision of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Pub. L. 107-16, Sec. 401] to which it relates.
Amendments by Section 1 of Pub. L. 107-22 applicable on the date of the enactment of this Act [Enacted: July 26, 2001].
Amendments by Section 401 of Pub. L. 107-16 applicable to taxable years beginning after December 31, 2001.
Amendments by Section 402 of Pub. L. 107-16 applicable to taxable years beginning after December 31, 2001.
“(a) Permanent Extension of Modifications- Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 (relating to sunset provisions) shall not apply to section 402 of such Act (relating to modifications to qualified tuition programs).”
Amendments by Section 6004(d) of Pub. L. 105-206 applicable as if included in the provisions of the Taxpayer Relief Act of 1997 to which they relate [Effective Date of Pub. L. 105-34, Sec. 213: Taxable years beginning after December 31, 1997].