Can a 529 Plan be transfered to the Coverdell Education Saving account?

Can a 529 Plan be transfered to the Coverdell Education Saving account?
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1 Answer

Answer :

If you move money from a 529 account into a Coverdell Education Savings Account, you pay taxes and a penalty. It is only tax free if you move money FROM a Coverdell ESA to a 529 plan.
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How many saving accounts can be opened by a guardian on behalf of a minor? a) Only one account can be opened on behalf of one minor by one guardian i.e either mother or father b) Only two account can be opened on behalf of one minor by both the father and mother c) No min limit d) None of these

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Last Answer : a) Only one account can be opened on behalf of one minor by one guardian i.e either mother or father