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Level 1
June 4, 2019
Question

Are able account deposits deductable?

  • June 4, 2019
  • 1 reply
  • 6 views

Taxpayer with long term disability deposited some of his earnings into an ABLE (disability related) account. Are these deductible from his income.

1 reply

Level 6
June 4, 2019

Yes, ABLE account contributions are deductible in some states, but not on your federal return.