What is the contribution limit on an Education Savings Account (ESA)?

Eligible taxpayers may deposit up to $2,000 per year into an ESA for a child under the age of 18. Parents, grandparents, other family members, friends, and even the designated beneficiary (child) may contribute to an ESA for the same child, but the total contributions for a child for a taxable year cannot exceed $2,000. Eligible taxpayers may contribute up to $2,000 for multiple children in a year.