Solved
Knowing Basis for Coverdell ESA Account
Hello,
My oldest started college last year and I'm entering the 1099-Q on Turbotax.
Turbotax is asking me for the basis for our Coverdell ESA for 2023, before we took our first distributions in 2024. I checked past statements, but our investment company doesn't appear to have record of the basis. We have contributed different amount different years. The account also changed custodians a few years ago.
All of our distributions have gone towards qualified educational expenses.
Does the basis have to be entered? Can it be estimated? Thanks! David
