<p>Actually, we have accummulated quite a bit for the kids combined, though of course kiddo’s tuition is VERY pricey. We would prefer to just deposit it into our account after closing the Coverdell & continue to use our charge card for the tuition, since we earn 2% on all charges. We use our account to pay off the charge card bills. </p>
<p>From what I’ve read so far, the key is to be sure the total qualified expenses are lower than the amount you withdraw in any year, which would be the case for D – just WISH there enough money in the account for that to even be an issue.</p>
<p>One more (minor) thing–the 1098T form we got for D is wrong–it says we paid much less of funds we paid for tuition is for qualified tuition (is there some sort of cap on how that is calculated). It doesn’t matter but it just seems odd that it should be less than 3/4s of what we actually paid and were charged in tuition, with the amounts reflected below. Thanks to anyone who can make sense of these forms.</p>