Questions & Answers

Can I deduct my Section 529A Pennsylvania ABLE Savings Program contributions?

The Pennsylvania ABLE (Achieving a Better Life Experience) savings program allows taxpayers to save for qualified disability expenses for eligible individuals.

If you contributed to an IRC Section 529A Pennsylvania ABLE Savings Program during 2019, you can take a deduction of up to $15,000 per taxpayer that contributed. This means that if you and your spouse each contributed to a Section 529A Pennsylvania ABLE Savings Program, you may each take a deduction up to $15,000.

You can't claim a deduction for a rollover of an account from one qualified plan into another qualified plan. You also can't claim a deduction for changing the beneficiaries within an account for a qualified plan.

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