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Publication 970 2001 Tax Year

Important Change for 2002

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This is archived information that pertains only to the 2001 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Hope credit and distribution from Coverdell ESA or QTP. Beginning in 2002, you may be able to claim a Hope credit in the same year in which you receive a distribution from either a Coverdell education savings account (ESA), formerly called an education IRA, or a qualified tuition program (QTP). You cannot use expenses paid with a distribution from either a Coverdell ESA or a QTP as the basis for the Hope credit. For more information about changes to the rules for Coverdell ESAs and new rules for QTPs, see Publication 553.

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