i have two clients who each want to setup a $2,000 coverdell esa account to a single beneficiary.
is each beneficiary allowed only one account?
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Resources:
https://www.irs.gov/taxtopics/tc310
https://www.bogleheads.org/wiki/Coverdell_Education_Savings_Accounts
"Special care must be taken for multiple accounts established for a beneficiary by different donors (for example, a parent and a grandparent) that the $2,000 annual limit is not exceeded, since excess contributions are subject to a 6% excise tax."
Just as examples...
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