Charlemagne (c.742-814), also known as Karl and Charles the Great, was a medieval emperor who ruled much of Western Europe from 768 to 814. In 771, Charlemagne became king of the Franks, a Germanic tribe in present-day Belgium, France, Luxembourg, the Netherlands and western Germany. He embarked on a mission to unite all Germanic peoples into one kingdom, and convert his subjects to Christianity.
Subject to the income limitation described below, anyone can contribute to a Coverdell account for a particular child. Parents, grandparents, aunts and uncles â even a friend of the family can set one up. The child can even contribute to his or her own Coverdell account.
You can't deduct what you contribute to a Coverdell account, but earnings are tax free if the money is used to pay college costs or expenses for elementary and secondary school education. This includes private and parochial schools. Up to $2,000 can be contributed to a beneficiary's account per year. Day camps.