The credit percentage is applied and compared to the $360. From the OR-17: Example: Jesse and Stacey make a $4,000 contribution to an ABLE account they opened for their daughter, who has a disability. Their AGI is $150,000. Their percentage from Table 14 is 10 percent. They may claim the lesser of 10 percent of their contribution ($4,000 x 0.10 = $400) or $360. Their credit is $360.
I created a return, 50% credit level income, $5k contribution and received the full $360 credit correctly. $5,000 contribution x 50% is $2500. The lesser of $2500 or $360 is $360 for the credit.
Page 119 of the OR -17 has more information.
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