Coverdell ESA and the Naval Academy

FLtoUSNA
Tue, 24 Mar 2009 12:47:32 +0000

Any parents or mids have any experience with Coverdell IRA’s and withdrawals while attending the Academy? I’m aware that the 10% tax penalty is waived for those attending the service academies, but was hoping the amount spent on uniforms, computer, and books may allow tax free withdrawal. No help from the IRS or a CPA I spoke with.