Which of the following statements about saving for college is not true?
A) The Coverdell Education Savings Account works just like the Roth IRA,except with respect to contributions.
B) If the money in a Coverdell Education Savings Account isn't used for college,taxes and penalties may apply.
C) Some 529 plans are prepaid college tuition plans.
D) You must open a 529 plan sponsored by the state in which you reside.
E) 529 college savings plans offer more flexibility than prepaid college tuition plans.
Correct Answer:
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