Questions & Answers

What is the ABLE Savings Account Subtraction?

The ABLE savings account subtraction can help lower your tax liability.

You can claim this subtraction if you contributed to an ABLE savings account. ABLE savings accounts are state authorized tax-advantaged saving accounts intended to save money for disabled individuals.

You can claim up to $3,000 per beneficiary ($6,000 per beneficiary if your filing status is Married Filing Jointly). The amount you claim can include contributions you made to any state's qualified ABLE savings program.

Let's Get Started

© 2002-2019 FreeTaxUSA, a TaxHawk, Inc. owned and operated website - Terms of Use | Privacy Statement