I'm trying to discern what was recently signed into law versus various proposals made in earlier bills from the House and Senate. I was wondering if somebody would be kind enough to clarify what actually passed and was signed into law?
1) Did the Coverdell ESA survive or was it eliminated? If it survived, is it completely unchanged? If not, what changed?
2) Regarding the 529 provision for grades K-12. Is the $10k annual limit on a per child or per family basis? For example, if I have 3 children, can I contribute up to $30,000 annually for their (grades K-12) 529 plans or is the overall limit $10,000 to cover all three children?