The annual contribution limit for a Coverdell account is $2,000 per beneficiary. This is for single taxpayers with an AGI of $95,000 and below and joint taxpayers with an AGI of $190,000 or below. Above these AGI levels, the contribution amount is reduced and completely phased out for single taxpayers with an AGI of $110,000 or more and joint taxpayers with an AGI of $220,000 or more.