The gallbladder is a small pear-shaped organ connected to your liver through the hepatic duct. It stores a substance called bile that flows from the liver. The gallbladder contracts to release bile through your intestines when you eat fat-containing food. Bile is a substance composed primarily of specialized salts that help emulsify fat, enabling intestinal absorption. Fat is one of six essential nutrients that your body needs to function properly.
In addition to being able to claim personal exemptions for each of their children, they may also qualify for a variety of related tax credits. One of these is the child tax credit, worth up to $1,000 per child in the 2016 and 2017 tax years.
Per Child Contribution Limit. The annual contribution limit is $2,000 per child. If you have three eligible children you can contribute $2,000 for each of them. But you can't contribute more than $2,000 for any one child even if you set up multiple Coverdell accounts for that child.