Are ABLE accounts earnings taxable at the federal and state level (Georgia)?
It is my understanding that ABLE accounts contributions, earnings, and balances are not taxed at the federal and state level(Georgia) unless an unqualified expense is made.
And the only time anything related to the ABLE account needs to be reported on the ABLE account owner's income tax return both federal and state (Georgia) is when an unqualified is made.
Is that correct?
