The meaning and definition of Education Savings Ac
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Posted On: 03/15/2013 11:54:49 PM
The meaning and definition of Education Savings Account -
An investment account designed to assist with paying for education-related expenses. Contributions grow tax-deferred and distributions are not taxed if used for qualified expenses. Withdrawals for non-qualified educational expenses are subject to income tax and a 10% IRS penalty. Distributions may be taxable.
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